Investidor Profissional Gestao de Recursos Ltda. Decreases Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Investidor Profissional Gestao de Recursos Ltda. lowered its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 50.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,678 shares of the bank’s stock after selling 196,329 shares during the quarter. Itaú Unibanco accounts for about 0.6% of Investidor Profissional Gestao de Recursos Ltda.’s holdings, making the stock its 14th biggest position. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Itaú Unibanco were worth $1,261,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ITUB. Van ECK Associates Corp lifted its stake in shares of Itaú Unibanco by 68.5% in the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,469 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Itaú Unibanco during the 1st quarter valued at approximately $49,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Itaú Unibanco in the 2nd quarter worth approximately $65,000. Daymark Wealth Partners LLC purchased a new position in Itaú Unibanco in the 3rd quarter valued at approximately $68,000. Finally, MQS Management LLC acquired a new position in Itaú Unibanco during the third quarter worth $70,000.

Itaú Unibanco Stock Up 0.8 %

ITUB opened at $5.96 on Monday. The firm has a market cap of $58.41 billion, a P/E ratio of 7.64, a PEG ratio of 0.77 and a beta of 0.98. The business’s fifty day simple moving average is $6.35 and its 200 day simple moving average is $6.27. Itaú Unibanco Holding S.A. has a 52 week low of $5.62 and a 52 week high of $7.27. 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 Cuts Dividend

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

Analyst Upgrades and Downgrades

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