Daiwa Securities Group Inc. Lowers Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Daiwa Securities Group Inc. decreased its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUBFree Report) by 2.6% during the third quarter, HoldingsChannel reports. The firm owned 419,347 shares of the bank’s stock after selling 11,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Itaú Unibanco were worth $2,789,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ITUB. Cerity Partners LLC increased its position in shares of Itaú Unibanco by 31.1% during the 3rd quarter. Cerity Partners LLC now owns 72,647 shares of the bank’s stock valued at $483,000 after purchasing an additional 17,216 shares during the last quarter. Raymond James Trust N.A. purchased a new position in shares of Itaú Unibanco in the third quarter worth about $81,000. Pzena Investment Management LLC increased its stake in Itaú Unibanco by 61.2% in the 3rd quarter. Pzena Investment Management LLC now owns 371,725 shares of the bank’s stock worth $2,472,000 after purchasing an additional 141,061 shares during the period. Advisors Asset Management Inc. lifted its position in Itaú Unibanco by 16.9% in the third quarter. Advisors Asset Management Inc. now owns 69,264 shares of the bank’s stock valued at $461,000 after purchasing an additional 9,996 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Itaú Unibanco during the third quarter valued at approximately $948,000.

Itaú Unibanco Price Performance

ITUB opened at $5.74 on Thursday. The stock’s 50 day moving average price is $6.23 and its 200-day moving average price is $6.24. Itaú Unibanco Holding S.A. has a 52-week low of $5.62 and a 52-week high of $7.27. The stock has a market capitalization of $56.26 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75.

Itaú Unibanco Cuts Dividend

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

Analyst Upgrades and Downgrades

ITUB has been the subject of a number of recent analyst reports. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. lowered 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Check Out Our Latest Stock Analysis on ITUB

Itaú Unibanco Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itaú Unibanco Holding S.A. (NYSE:ITUBFree Report).

Institutional Ownership by Quarter for Itaú Unibanco (NYSE:ITUB)

Receive News & Ratings for Itaú Unibanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itaú Unibanco and related companies with MarketBeat.com's FREE daily email newsletter.