Driehaus Capital Management LLC Has $41.55 Million Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Driehaus Capital Management LLC lifted its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 77.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,114,571 shares of the bank's stock after purchasing an additional 3,106,130 shares during the period. Driehaus Capital Management LLC owned approximately 0.07% of Itaú Unibanco worth $41,549,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Itaú Unibanco by 67.0% during the first quarter. GAMMA Investing LLC now owns 4,375 shares of the bank's stock worth $30,000 after purchasing an additional 1,755 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Itaú Unibanco by 571.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank's stock worth $48,000 after buying an additional 5,862 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Itaú Unibanco during the first quarter worth approximately $49,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Itaú Unibanco during the second quarter worth approximately $65,000. Finally, Sunpointe LLC bought a new stake in shares of Itaú Unibanco during the fourth quarter worth approximately $72,000.

Itaú Unibanco Trading Up 0.4 %

NYSE:ITUB traded up $0.03 during trading hours on Friday, hitting $6.78. The stock had a trading volume of 24,774,891 shares, compared to its average volume of 17,656,975. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $66.45 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.84 and a beta of 0.97. The business's 50 day moving average is $6.46 and its 200-day moving average is $6.34.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The firm had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Sell-side analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.0031 per share. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco's dividend payout ratio is 48.65%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ITUB. UBS Group downgraded shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a research note on Thursday, August 22nd. Morgan Stanley raised shares of Itaú Unibanco from an "equal weight" rating to an "overweight" rating in a research note on Monday, June 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $7.05.

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.