Itaú Unibanco Holding S.A. (NYSE:ITUB) is Itau Unibanco Holding S.A.’s 4th Largest Position

Itau Unibanco Holding S.A. lessened its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,619,627 shares of the bank’s stock after selling 2,198,400 shares during the quarter. Itaú Unibanco makes up 4.7% of Itau Unibanco Holding S.A.’s holdings, making the stock its 4th biggest position. Itau Unibanco Holding S.A. owned about 0.22% of Itaú Unibanco worth $143,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITUB. Driehaus Capital Management LLC increased its position in shares of Itaú Unibanco by 77.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after purchasing an additional 3,106,130 shares during the last quarter. Perpetual Ltd boosted its position in shares of Itaú Unibanco by 9.0% in the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after acquiring an additional 1,126,695 shares during the last quarter. Fisher Asset Management LLC lifted its position in Itaú Unibanco by 6.1% during the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock valued at $336,408,000 after buying an additional 2,886,508 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Itaú Unibanco during the third quarter valued at approximately $925,000. Finally, Baillie Gifford & Co. increased its stake in Itaú Unibanco by 4.7% during the third quarter. Baillie Gifford & Co. now owns 9,556,375 shares of the bank’s stock valued at $63,550,000 after purchasing an additional 430,582 shares during the last quarter.

Itaú Unibanco Trading Down 0.9 %

NYSE:ITUB opened at $5.31 on Tuesday. The firm has a market capitalization of $52.04 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. The business has a fifty day moving average price of $6.19 and a 200-day moving average price of $6.22. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a one year low of $5.25 and a one year high of $7.27.

Itaú Unibanco Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ITUB. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. dropped their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have issued 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.

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.