Itaú Unibanco Holding S.A. (NYSE:ITUB) Position Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 51.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,750 shares of the bank’s stock after selling 28,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Itaú Unibanco were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Itaú Unibanco by 67.0% in the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after purchasing an additional 1,755 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Itaú Unibanco by 54.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after purchasing an additional 2,838 shares during the last quarter. Trillium Asset Management LLC lifted its holdings in shares of Itaú Unibanco by 0.5% in the 1st quarter. Trillium Asset Management LLC now owns 873,603 shares of the bank’s stock worth $6,054,000 after purchasing an additional 4,102 shares during the last quarter. Renaissance Group LLC lifted its holdings in shares of Itaú Unibanco by 0.4% in the 1st quarter. Renaissance Group LLC now owns 1,205,760 shares of the bank’s stock worth $8,356,000 after purchasing an additional 4,273 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Itaú Unibanco by 571.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock worth $48,000 after purchasing an additional 5,862 shares during the last quarter.

Itaú Unibanco Stock Up 1.7 %

Shares of Itaú Unibanco stock opened at $6.70 on Friday. The business’s fifty day moving average price is $6.15 and its two-hundred day moving average price is $6.39. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $65.62 billion, a P/E ratio of 9.05, a PEG ratio of 0.72 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 1-year low of $5.12 and a 1-year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. The company had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, research analysts forecast that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 3rd will be paid a $0.0031 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, September 3rd. Itaú Unibanco’s dividend payout ratio is presently 4.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ITUB shares. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Itaú Unibanco has a consensus rating of “Hold” and an average target price of $7.05.

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.