Raymond James & Associates Acquires 93,904 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Raymond James & Associates lifted its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 29.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 412,720 shares of the bank’s stock after acquiring an additional 93,904 shares during the quarter. Raymond James & Associates’ holdings in Itaú Unibanco were worth $2,745,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ITUB. Whittier Trust Co. of Nevada Inc. increased its holdings in Itaú Unibanco by 571.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock worth $48,000 after buying an additional 5,862 shares during the last quarter. Bessemer Group Inc. bought a new position in Itaú Unibanco during the first quarter worth about $49,000. Daymark Wealth Partners LLC acquired a new position in Itaú Unibanco during the third quarter worth approximately $68,000. Dynamic Advisor Solutions LLC bought a new position in shares of Itaú Unibanco during the 2nd quarter worth approximately $65,000. Finally, Wealth Advisory Solutions LLC bought a new position in shares of Itaú Unibanco during the 2nd quarter worth approximately $83,000.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $6.08 on Tuesday. The business’s 50 day moving average is $6.45 and its 200-day moving average is $6.27. The firm has a market cap of $59.59 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 0.78 and a beta of 0.98. Itaú Unibanco Holding S.A. has a 1-year low of $5.62 and a 1-year high of $7.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. During the same period in the prior year, the company posted $0.18 earnings per share. Equities research analysts predict that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.95%.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd.

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.