Haven Global Partners LLC Takes Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Haven Global Partners LLC bought a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the fourth quarter, HoldingsChannel reports. The firm bought 662,085 shares of the bank’s stock, valued at approximately $3,284,000. Itaú Unibanco comprises about 3.1% of Haven Global Partners LLC’s investment portfolio, making the stock its 10th largest position.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position 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 valued at $338,016,000 after acquiring an additional 2,604,304 shares during the last quarter. Fisher Asset Management LLC raised its position in Itaú Unibanco by 6.1% in the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after purchasing an additional 2,886,508 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Itaú Unibanco by 3.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 39,658,215 shares of the bank’s stock valued at $196,705,000 after acquiring an additional 1,286,014 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Itaú Unibanco by 1.3% during the third quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock valued at $174,930,000 after purchasing an additional 346,390 shares during the period. Finally, FMR LLC grew its holdings in shares of Itaú Unibanco by 12,592.2% in the third quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock worth $156,171,000 after purchasing an additional 23,299,313 shares during the last quarter.

Itaú Unibanco Stock Performance

ITUB opened at $5.80 on Friday. The firm has a market capitalization of $56.80 billion, a PE ratio of 7.43, a P/E/G ratio of 0.64 and a beta of 0.95. The firm has a 50 day moving average of $5.31 and a two-hundred day moving average of $5.98. Itaú Unibanco Holding S.A. has a 12-month low of $4.86 and a 12-month high of $7.27. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.0029 per share. The ex-dividend date is Tuesday, February 4th. This is a boost from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITUB. UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. HSBC upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $6.90.

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.