Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lowered its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 9.2% in the third quarter, HoldingsChannel reports. The firm owned 21,619,627 shares of the bank’s stock after selling 2,198,400 shares during the period. Itaú Unibanco comprises about 4.7% of Itau Unibanco Holding S.A.’s portfolio, making the stock its 4th largest holding. Itau Unibanco Holding S.A.’s holdings in Itaú Unibanco were worth $143,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC lifted its stake in shares of Itaú Unibanco by 6.1% in the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock valued at $336,408,000 after purchasing an additional 2,886,508 shares during the period. William Blair Investment Management LLC boosted its holdings in Itaú Unibanco by 14.8% in the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock worth $221,505,000 after buying an additional 4,888,099 shares during the period. FMR LLC increased its holdings in Itaú Unibanco by 12,592.2% during the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after purchasing an additional 23,299,313 shares during the period. Perpetual Ltd raised its stake in Itaú Unibanco by 9.0% during the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock valued at $90,638,000 after buying an additional 1,126,695 shares during the last quarter. Finally, Northcape Capital Pty Ltd boosted its holdings in shares of Itaú Unibanco by 5.7% during the 2nd quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock valued at $55,856,000 after purchasing an additional 519,529 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on ITUB. JPMorgan Chase & Co. lowered their target price 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 shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Itaú Unibanco currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Itaú Unibanco Stock Performance

Itaú Unibanco stock opened at $5.31 on Tuesday. The stock has a market capitalization of $52.04 billion, a price-to-earnings ratio of 6.81, a P/E/G ratio of 0.70 and a beta of 0.95. Itaú Unibanco Holding S.A. has a 12-month low of $5.25 and a 12-month high of $7.27. The stock has a 50-day simple moving average of $6.19 and a 200 day simple moving average of $6.22. 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 firm also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be given a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is presently 3.85%.

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.