Mirae Asset Global Investments Co. Ltd. Has $5.50 Million Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,027,679 shares of the bank’s stock after purchasing an additional 27,318 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Itaú Unibanco were worth $5,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,469 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new stake in Itaú Unibanco during the fourth quarter valued at $57,000. Daymark Wealth Partners LLC acquired a new stake in Itaú Unibanco during the 3rd quarter worth about $68,000. Quantinno Capital Management LP bought a new position in shares of Itaú Unibanco in the 3rd quarter worth about $68,000. Finally, MQS Management LLC acquired a new position in shares of Itaú Unibanco in the 3rd quarter valued at about $70,000.

Itaú Unibanco Trading Down 1.9 %

NYSE ITUB opened at $5.85 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 52 week low of $4.86 and a 52 week high of $7.27. The business has a 50 day moving average price of $5.31 and a 200-day moving average price of $5.97. The company has a market cap of $57.29 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 0.65 and a beta of 0.94.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Thursday, February 6th. The bank reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a net margin of 12.33% and a return on equity of 19.72%. As a group, equities analysts expect that Itaú Unibanco Holding S.A. will post 0.76 earnings per share for the current fiscal year.

Itaú Unibanco Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, April 8th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.0029 per share. The ex-dividend date is Tuesday, March 4th. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.85%.

Analyst Ratings Changes

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 $6.80 target price for the company in a report on Monday, January 13th. Hsbc Global Res upgraded shares of Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, UBS Group raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.90.

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.