Victory Capital Management Inc. Grows Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Victory Capital Management Inc. increased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,694,591 shares of the bank’s stock after acquiring an additional 533,714 shares during the period. Victory Capital Management Inc.’s holdings in Itaú Unibanco were worth $44,519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. boosted its position in shares of Itaú Unibanco by 0.9% during the second quarter. Thornburg Investment Management Inc. now owns 183,245 shares of the bank’s stock valued at $1,084,000 after buying an additional 1,664 shares during the period. Van ECK Associates Corp boosted its position in shares of Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after buying an additional 2,469 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Itaú Unibanco by 4.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank’s stock valued at $382,000 after buying an additional 2,500 shares during the period. Creative Planning raised its stake in shares of Itaú Unibanco by 33.5% during the third quarter. Creative Planning now owns 14,941 shares of the bank’s stock valued at $99,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its stake in shares of Itaú Unibanco by 1.5% during the third quarter. Baker Avenue Asset Management LP now owns 303,181 shares of the bank’s stock valued at $2,016,000 after acquiring an additional 4,485 shares in the last quarter.

Itaú Unibanco Stock Up 0.8 %

ITUB opened at $5.96 on Friday. The company has a market cap of $58.41 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a twelve month low of $5.62 and a twelve month high of $7.27. The company has a 50-day moving average price of $6.37 and a 200 day moving average price of $6.26.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s payout ratio is 3.85%.

Analyst Ratings Changes

A number of equities analysts recently commented on ITUB shares. JPMorgan Chase & Co. reduced their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Itaú Unibanco has an average rating of “Moderate Buy” and a consensus price target of $7.50.

About Itaú Unibanco

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.