Toroso Investments LLC acquired a new position in Itau Unibanco Holding SA (NYSE:ITUB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,240 shares of the bank’s stock, valued at approximately $121,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trilogy Global Advisors LP boosted its stake in shares of Itau Unibanco by 19.4% during the 4th quarter. Trilogy Global Advisors LP now owns 2,700,879 shares of the bank’s stock valued at $25,000 after purchasing an additional 439,750 shares in the last quarter. SeaBridge Investment Advisors LLC grew its holdings in Itau Unibanco by 50.0% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 3,000 shares of the bank’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Smithfield Trust Co. grew its holdings in Itau Unibanco by 50.0% during the 4th quarter. Smithfield Trust Co. now owns 4,457 shares of the bank’s stock worth $41,000 after acquiring an additional 1,485 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in Itau Unibanco by 230.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 4,848 shares of the bank’s stock worth $44,000 after acquiring an additional 3,379 shares in the last quarter. Finally, Legacy Financial Advisors Inc. bought a new position in Itau Unibanco during the 4th quarter worth about $46,000. 4.91% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of Itau Unibanco from a “strong sell” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, February 1st. HSBC cut shares of Itau Unibanco from a “hold” rating to a “reduce” rating in a research note on Tuesday, December 11th. Bank of America cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 5th. Finally, Scotiabank raised shares of Itau Unibanco from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.00.
The business also recently disclosed a monthly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.0039 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, April 1st. Itau Unibanco’s dividend payout ratio is presently 7.58%.
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Itau Unibanco Company Profile
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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