Timber Hill LLC Acquires Shares of 88,228 Itau Unibanco Banco Holding SA (ITUB)

Timber Hill LLC acquired a new stake in Itau Unibanco Banco Holding SA (NYSE:ITUB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 88,228 shares of the bank’s stock, valued at approximately $1,209,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITUB. Legal & General Group Plc boosted its holdings in Itau Unibanco Banco Holding SA by 19.8% in the first quarter. Legal & General Group Plc now owns 121,546 shares of the bank’s stock valued at $1,468,000 after purchasing an additional 20,100 shares during the period. Bank of Montreal Can boosted its holdings in Itau Unibanco Banco Holding SA by 6.5% in the second quarter. Bank of Montreal Can now owns 1,037,582 shares of the bank’s stock valued at $11,465,000 after purchasing an additional 63,745 shares during the period. Eqis Capital Management Inc. boosted its holdings in Itau Unibanco Banco Holding SA by 8.8% in the second quarter. Eqis Capital Management Inc. now owns 38,494 shares of the bank’s stock valued at $425,000 after purchasing an additional 3,106 shares during the period. OLD National Bancorp IN purchased a new position in Itau Unibanco Banco Holding SA in the second quarter valued at $150,000. Finally, Aperio Group LLC boosted its holdings in Itau Unibanco Banco Holding SA by 1.8% in the second quarter. Aperio Group LLC now owns 546,959 shares of the bank’s stock valued at $6,044,000 after purchasing an additional 9,534 shares during the period. 4.80% of the stock is owned by institutional investors and hedge funds.

Shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) traded up $0.16 during midday trading on Thursday, reaching $12.53. The company’s stock had a trading volume of 7,242,300 shares, compared to its average volume of 11,402,848. The stock has a market cap of $80,562.10, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.66 and a quick ratio of 1.66. Itau Unibanco Banco Holding SA has a 12 month low of $9.10 and a 12 month high of $14.59.

Itau Unibanco Banco Holding SA announced that its board has approved a share buyback program on Thursday, August 31st that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a monthly dividend, which will be paid on Friday, January 12th. Shareholders of record on Monday, December 4th will be issued a dividend of $0.005 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.48%. This is an increase from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. The ex-dividend date is Friday, December 1st. Itau Unibanco Banco Holding SA’s payout ratio is 5.22%.

A number of research firms recently issued reports on ITUB. ValuEngine lowered Itau Unibanco Banco Holding SA from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Citigroup Inc. downgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. BidaskClub downgraded Itau Unibanco Banco Holding SA from a “strong-buy” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Zacks Investment Research downgraded Itau Unibanco Banco Holding SA from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Itau Unibanco Banco Holding SA has a consensus rating of “Hold” and an average price target of $12.50.

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Itau Unibanco Banco Holding SA Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

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Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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