Itaú Unibanco Holding S.A. (NYSE:ITUB) Position Boosted by Fmr LLC

FMR LLC raised its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 117.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,044,340 shares of the bank's stock after purchasing an additional 27,559,997 shares during the quarter. FMR LLC owned 0.52% of Itaú Unibanco worth $253,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ITUB. Arrowstreet Capital Limited Partnership grew its position in shares of Itaú Unibanco by 9.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 48,018,726 shares of the bank's stock valued at $238,173,000 after purchasing an additional 4,151,459 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Itaú Unibanco by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock worth $338,016,000 after acquiring an additional 2,604,304 shares during the period. GQG Partners LLC boosted its position in shares of Itaú Unibanco by 33.0% in the fourth quarter. GQG Partners LLC now owns 9,269,375 shares of the bank's stock worth $45,976,000 after acquiring an additional 2,302,211 shares during the last quarter. SPX Gestao de Recursos Ltda grew its holdings in Itaú Unibanco by 657.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 1,702,655 shares of the bank's stock valued at $8,445,000 after purchasing an additional 1,477,993 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Itaú Unibanco by 3.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 39,658,215 shares of the bank's stock worth $196,705,000 after purchasing an additional 1,286,014 shares during the last quarter.

Wall Street Analysts Forecast Growth

ITUB has been the subject of a number of research analyst reports. HSBC upgraded Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 price objective for the company in a report on Monday, January 13th. UBS Group upgraded Itaú Unibanco from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $6.27.

Itaú Unibanco Stock Up 0.6 %

Shares of Itaú Unibanco stock traded up $0.04 on Thursday, hitting $5.63. 9,214,931 shares of the company's stock traded hands, compared to its average volume of 23,898,899. The stock has a market cap of $60.64 billion, a P/E ratio of 7.20, a PEG ratio of 0.89 and a beta of 0.65. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a 52-week low of $4.42 and a 52-week high of $6.30. The firm's 50-day moving average is $5.38 and its 200 day moving average is $5.25.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. Equities analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itaú Unibanco Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a dividend of $0.0527 per share. This is a positive change from Itaú Unibanco's previous dividend of $0.00. The ex-dividend date of this dividend was Wednesday, February 19th. Itaú Unibanco's payout ratio is presently 2.82%.

Itaú Unibanco Profile

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.