Westwood Global Investments LLC recently announced the acquisition of new stake in Itau Unibanco Holding S.A. ADR (NYSE:ITUB). The institutional investor has increased its shareholding in the Financial company by 2.83% to 63.47 million shares with purchase of 1.75 million shares. This fresh investment now brings its stake to 1.31% valued currently at $406.23 million. In addition, Goldman Sachs International raised its holdings by 11.63 million to 63.47 million shares. And Schroder Investment Management Lt has lifted its position by 4.90% or 2.69 million shares – to 57.71 million shares.
Currently, there are 4.85B common shares owned by the public and among those 4.81B shares have been available to trade.
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The top 3 mutual fund holders in Itau Unibanco Holding S.A. ADR are JOHCM International Select Fund, iShares Tr. – Latin America 40 ET, and JPMorgan Emerging Markets Equity. JOHCM International Select Fund owns 19.33 million shares of the company’s stock, all valued at over $123.72 million. The company sold -4.22 million shares recently to bring their total holdings to about 0.40% of the shares outstanding. JPMorgan Emerging Markets Equity bought 5.33 million shares to bring its total holdings to over 17.33 million shares at a value of $110.91 million. JPMorgan Emerging Markets Equity now owns shares totaling to 0.36% of the shares outstanding.
However, the script later moved the day high at 6.74, up 2.13%. The company’s stock has a 5-day price change of 4.67% and 22.72% over the past three months. ITUB shares are trading 49.48% year to date (YTD), with the 12-month market performance up to 61.59% higher. It has a 12-month low price of $4.09 and touched a high of $6.75 over the same period. ITUB has an average intraday trading volume of 15.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.63%, 14.46%, and 24.64% respectively.
Institutional ownership of Itau Unibanco Holding S.A. ADR (NYSE: ITUB) shares accounts for 17.25% of the company’s 4.85B shares outstanding. Mutual fund holders own 8.17%, while other institutional holders and individual stakeholders account for 9.14% and — respectively.
It has a market capitalization of $32.54B and a beta (3y monthly) value of 0.92. The stock’s trailing 12-month PE ratio is 10.53, while the earnings-per-share (ttm) stands at $0.64. The company has a PEG of 0.92 and the debt-to-equity ratio at 4.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.18% over the week and 1.91% over the month.
Analysts forecast that Itau Unibanco Holding S.A. ADR (ITUB) will achieve an EPS of $0.19 for the current quarter, $0.19 for the next quarter and $0.83 for 2024. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.15 a year ago. Earnings per share for the fiscal year are expected to increase by 27.51%, and 10.83% over the next financial year. EPS should grow at an annualized rate of 11.50% over the next five years, compared to -4.65% over the past 5-year period.
Looking at the support for the ITUB, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on October 16, 2023, with the firm’s price target at $6.10.
