As of the 4th quarter of 2022, Credit Suisse AG has increased its position in Itaú Unibanco Holding S.A. by an impressive 19.9% according to their most recent disclosure with the Securities and Exchange Commission. The bank’s stock now boasts approximately 2,340,033 shares purchased by Credit Suisse AG, valued at $11,022,000. This move signals a significant level of confidence in the financial giant by one of the world’s leading banks.
Itaú Unibanco Holding SA provides a wide array of financial products and services to individual and corporate clients around the world. These include credit cards, asset management, insurance, pension plan and capitalization products, as well as various credit products for individuals and small companies through its Retail Banking segment. Furthermore, it operates through two other prominent segments namely Wholesale Banking which caters to large corporations’ financial needs such as loan syndications and Activities that encompass Markets & Treasury operations globally.
The bank released its earnings report on May 8th this year where they revealed $0.14 earnings per share for the quarter which is relatively lower than analysts’ consensus estimates of $0.17 by ($0.03). Despite missing this target marginally Itaú Unibanco still maintained robust net margins of over 10 % along with commendable returns on equity of almost 18%. Equities analysts are optimistic about Its Unibanco’s prospects in achieving around
about 0.7 earnings per share for this current year.
It’s no wonder that Credit Suisse AG sees great potential in Itau Unibanco given their strong showings thus far along with their long-standing reputation in serving their clientele both domestically and internationally. With vast numbers of customers served over many years who have come to rely on Itau’s diverse offerings and personalized approach tailored to individual needs, Itau represents a solid foothold for any investment strategy.
In conclusion, Itaú Unibanco Holding S.A.’s consistent financial successes and well-rooted presence in the financial market make it an attractive option for investors like Credit Suisse AG. This company’s proven track record ensures that present and future clients will be aptly served and can expect a level of excellence from such a trusted partner in the financial landscape both at home and abroad.
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Institutional Investors Increase Stake in Itaú Unibanco Holding SA
Institutional investors have recently made significant changes to their positions in Itaú Unibanco Holding SA, a Brazilian financial institution that provides services to both individual and corporate clients in Brazil and around the world. Among these institutional investors are National Bank of Canada FI, Robeco Institutional Asset Management B.V., Bank of America Corp DE, Renaissance Technologies LLC and BlackRock Inc.
National Bank of Canada FI raised its position in Itaú Unibanco by a whopping 134,569,722.2% in the 4th quarter and now owns 48,445,136 shares worth $228,177,000 after purchasing an additional 48,445,100 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Itaú Unibanco during the fourth quarter valued at approximately $140,164,000.
Bank of America Corp DE raised its holdings in shares of Itaú Unibanco by 253.7% in the fourth quarter and now owns 27,485,905 shares worth $129,459,000 after buying an additional 19,715,309 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Itaú Unibanco by 244.7% during the first quarter and now owns 20,872,374 shares worth $119,181,000 after acquiring an additional 14,8180 million shares during the last quarter.
Finally yet importantly , BlackRock Inc boosted its holdings in Itau’Unibanco by 41.4% during the first quarter where it now holds 37 million shares with value of $216m after acquiring 11 million shares.
Overall institutional investors own 2.25%of the company’s stock.
It’s important to note that on Friday the valuation for each share started at $5.67 for the previously stated company while the market capitalization of the company stands at $55.57 billion.There are a few key ratios that one should keep in mind, including the debt-to-equity ratio of 2.40 and a quick ratio of 1.57.
The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. The Retail Banking segment includes credit cards, asset management, insurance, pension plan and capitalization products, and a variety of credit products and services for individuals as well as small companies.
Itaú Unibanco disclosed recently about variable dividends payout to their investors which will go out on Tuesday September 5th; those who recorded on Wednesday June 21st received $0.04 per share which is an increase from Itaú Unibanco’s previous variable dividend of $0.04.The firm’s current dividend payout ratio is 5.08%.
Recently , Morgan Stanley downgraded Itaú Unibanco from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 19th. This follows a growing interest specifically among institutional investors in Brazilian financial markets for sometime now.