Ramirez Asset Management Inc. Purchases 15,955 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Ramirez Asset Management Inc. grew its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,282,897 shares of the bank’s stock after buying an additional 15,955 shares during the period. Itaú Unibanco accounts for 1.3% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 17th largest position. Ramirez Asset Management Inc.’s holdings in Itaú Unibanco were worth $6,363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC purchased a new position in Itaú Unibanco in the 4th quarter valued at approximately $57,000. Signaturefd LLC lifted its stake in Itaú Unibanco by 4,000.3% in the 4th quarter. Signaturefd LLC now owns 12,260 shares of the bank’s stock worth $61,000 after purchasing an additional 11,961 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Itaú Unibanco in the third quarter worth $68,000. Raymond James Trust N.A. purchased a new stake in shares of Itaú Unibanco in the third quarter worth $81,000. Finally, Fielder Capital Group LLC boosted its stake in Itaú Unibanco by 13.2% during the fourth quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank’s stock valued at $85,000 after buying an additional 2,001 shares during the period.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $5.60 on Friday. Itaú Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $6.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. The business has a 50 day moving average of $5.28 and a 200 day moving average of $5.31. The company has a market capitalization of $60.32 billion, a price-to-earnings ratio of 7.17, a PEG ratio of 0.89 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Thursday, February 6th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. On average, sell-side analysts predict that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.0527 per share. This is a boost from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date of this dividend was Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is 2.82%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ITUB. UBS Group raised Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 target price for the company in a research report on Monday, January 13th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Itaú Unibanco has an average rating of “Buy” and an average price target of $6.27.

About Itaú Unibanco

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.