BNP Paribas Financial Markets Cuts Stock Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

BNP Paribas Financial Markets trimmed its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 12.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,568 shares of the bank’s stock after selling 28,138 shares during the period. BNP Paribas Financial Markets’ holdings in Itaú Unibanco were worth $1,340,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock worth $156,171,000 after purchasing an additional 23,299,313 shares in the last quarter. Marshall Wace LLP raised its stake in Itaú Unibanco by 200.4% in the second quarter. Marshall Wace LLP now owns 7,679,311 shares of the bank’s stock worth $44,847,000 after buying an additional 5,122,752 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Itaú Unibanco by 14.8% in the second 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. Driehaus Capital Management LLC boosted its position in Itaú Unibanco by 77.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after acquiring an additional 3,106,130 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Itaú Unibanco by 6.1% during the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after acquiring an additional 2,886,508 shares during the period.

Wall Street Analyst Weigh In

ITUB has been the topic of several research reports. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. dropped their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Itaú Unibanco presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Itaú Unibanco Price Performance

NYSE ITUB opened at $5.38 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 12 month low of $5.25 and a 12 month high of $7.27. The stock’s 50 day moving average is $6.04 and its 200 day moving average is $6.18. The stock has a market cap of $52.68 billion, a PE ratio of 6.89, a P/E/G ratio of 0.70 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

The firm 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 is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is currently 3.85%.

Itaú Unibanco Company 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.