Deltec Asset Management LLC Acquires 49,000 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Deltec Asset Management LLC increased its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 73.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 115,500 shares of the bank’s stock after purchasing an additional 49,000 shares during the period. Deltec Asset Management LLC’s holdings in Itaú Unibanco were worth $573,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after acquiring an additional 2,469 shares during the last quarter. Quantinno Capital Management LP bought a new position in Itaú Unibanco during the third quarter valued at approximately $68,000. Daymark Wealth Partners LLC bought a new position in Itaú Unibanco during the third quarter valued at approximately $68,000. MQS Management LLC purchased a new stake in Itaú Unibanco in the third quarter worth approximately $70,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Itaú Unibanco in the 4th quarter worth approximately $57,000.

Itaú Unibanco Trading Up 1.6 %

Shares of ITUB stock opened at $5.86 on Wednesday. Itaú Unibanco Holding S.A. has a 1 year low of $4.86 and a 1 year high of $7.27. The firm has a fifty day moving average price of $5.30 and a 200-day moving average price of $5.97. The company has a market cap of $57.38 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 0.65 and a beta of 0.94. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75.

Itaú Unibanco Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Tuesday, March 4th will be given a $0.0029 dividend. The ex-dividend date is Tuesday, March 4th. Itaú Unibanco’s payout ratio is 3.85%.

Analysts Set New Price Targets

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

Itaú Unibanco Company 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.