Daymark Wealth Partners LLC Makes New $68,000 Investment in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Daymark Wealth Partners LLC purchased a new stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,250 shares of the bank’s stock, valued at approximately $68,000.

A number of other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Itaú Unibanco by 43.7% during the fourth quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after purchasing an additional 15,908,536 shares during the period. William Blair Investment Management LLC raised its position in Itaú Unibanco by 14.8% during the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock worth $221,505,000 after buying an additional 4,888,099 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in Itaú Unibanco by 2.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock valued at $134,606,000 after acquiring an additional 529,600 shares during the period. Capital Research Global Investors increased its stake in shares of Itaú Unibanco by 460.6% in the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock worth $105,766,000 after acquiring an additional 12,539,737 shares during the period. Finally, Northcape Capital Pty Ltd raised its holdings in shares of Itaú Unibanco by 5.7% during the second quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock worth $55,856,000 after purchasing an additional 519,529 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on ITUB. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Three 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.com, Itaú Unibanco currently has an average rating of “Hold” and a consensus target price of $7.05.

Itaú Unibanco Stock Down 1.2 %

ITUB opened at $6.20 on Friday. The company has a fifty day moving average of $6.54 and a two-hundred day moving average of $6.31. The stock has a market capitalization of $60.72 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.80 and a beta of 0.97. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.25 and a fifty-two week 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.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $16.54 billion during the quarter, compared to analyst estimates of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same quarter in the previous year, the business earned $0.18 EPS. On average, research analysts expect that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The firm also recently announced 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 of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is 4.05%.

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.