US Bancorp DE Lowers Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

US Bancorp DE reduced its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUBGet Rating) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,902 shares of the bank’s stock after selling 15,921 shares during the period. US Bancorp DE’s holdings in Itaú Unibanco were worth $790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Veriti Management LLC boosted its position in shares of Itaú Unibanco by 10.6% during the third quarter. Veriti Management LLC now owns 136,304 shares of the bank’s stock worth $705,000 after buying an additional 13,080 shares during the period. Baillie Gifford & Co. boosted its position in shares of Itaú Unibanco by 1.7% during the third quarter. Baillie Gifford & Co. now owns 18,998,710 shares of the bank’s stock worth $98,224,000 after buying an additional 308,999 shares during the period. Deltec Asset Management LLC boosted its position in shares of Itaú Unibanco by 7.8% during the third quarter. Deltec Asset Management LLC now owns 351,292 shares of the bank’s stock worth $1,816,000 after buying an additional 25,300 shares during the period. Fifth Third Bancorp boosted its position in shares of Itaú Unibanco by 84.3% during the third quarter. Fifth Third Bancorp now owns 147,862 shares of the bank’s stock worth $764,000 after buying an additional 67,644 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Itaú Unibanco by 113.4% during the third quarter. Raymond James & Associates now owns 94,159 shares of the bank’s stock worth $487,000 after buying an additional 50,042 shares during the period. 2.25% of the stock is currently owned by hedge funds and other institutional investors.

Itaú Unibanco Stock Down 0.2 %

Itaú Unibanco stock opened at $5.10 on Friday. Itaú Unibanco Holding S.A. has a 1-year low of $3.90 and a 1-year high of $6.07. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $49.98 billion, a PE ratio of 9.11, a P/E/G ratio of 0.46 and a beta of 0.71. The stock’s fifty day moving average is $4.80 and its two-hundred day moving average is $4.98.

Itaú Unibanco (NYSE:ITUBGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The bank reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Itaú Unibanco had a return on equity of 17.42% and a net margin of 10.97%. The company had revenue of $7.01 billion for the quarter. On average, sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.61 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 13th. Stockholders of record on Thursday, February 2nd will be given a dividend of $0.002 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, February 1st. Itaú Unibanco’s dividend payout ratio (DPR) is currently 5.36%.

Analyst Ratings Changes

A number of research firms recently issued reports on ITUB. Barclays upgraded Itaú Unibanco from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $5.50 to $7.00 in a report on Tuesday, November 15th. The Goldman Sachs Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating and lifted their target price for the company from $5.40 to $7.00 in a report on Thursday, September 29th. Finally, Scotiabank upgraded Itaú Unibanco from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 5th.

About Itaú Unibanco

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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 and Corporation. It offers various deposit products, as well as loans and credit cards; investment and commercial banking services; real estate lending services; financing and investment services; and leasing and foreign exchange services.

See Also

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

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