Sagespring Wealth Partners LLC Makes New $67,000 Investment in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Sagespring Wealth Partners LLC bought a new stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,602 shares of the bank’s stock, valued at approximately $67,000.

A number of other institutional investors have also recently made changes to their positions in ITUB. Bessemer Group Inc. bought a new position in Itaú Unibanco in the fourth quarter valued at about $35,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Itaú Unibanco in the fourth quarter worth approximately $57,000. Signaturefd LLC grew its position in Itaú Unibanco by 4,000.3% during the fourth quarter. Signaturefd LLC now owns 12,260 shares of the bank’s stock valued at $61,000 after buying an additional 11,961 shares during the period. Peapack Gladstone Financial Corp increased its holdings in Itaú Unibanco by 13.4% during the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank’s stock valued at $84,000 after buying an additional 2,000 shares during the last quarter. Finally, Fielder Capital Group LLC boosted its stake in shares of Itaú Unibanco by 13.2% during the 4th quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank’s stock worth $85,000 after acquiring an additional 2,001 shares during the last quarter.

Wall Street Analysts Forecast Growth

ITUB has been the topic of a number of recent research reports. HSBC raised Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 target price on the stock in a report on Monday, January 13th. Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. Finally, UBS Group raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report 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 MarketBeat, the stock has an average rating of “Buy” and an average target price of $6.27.

Itaú Unibanco Trading Up 1.2 %

Shares of ITUB stock opened at $5.66 on Friday. The stock has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $5.25. Itaú Unibanco Holding S.A. has a 52-week low of $4.42 and a 52-week high of $6.30. The firm has a market capitalization of $60.97 billion, a PE ratio of 7.25, a PEG ratio of 0.89 and a beta of 0.65. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. On average, analysts predict that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently announced a dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.0527 per share. This is a boost from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date of this dividend was Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is presently 2.82%.

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.