Wells Fargo & Company MN Has $3.20 Million Stock Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Wells Fargo & Company MN cut its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 644,140 shares of the bank’s stock after selling 11,290 shares during the quarter. Wells Fargo & Company MN’s holdings in Itaú Unibanco were worth $3,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ITUB. HighTower Advisors LLC grew its position in Itaú Unibanco by 23.2% during the third quarter. HighTower Advisors LLC now owns 25,586 shares of the bank’s stock valued at $169,000 after purchasing an additional 4,823 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Itaú Unibanco by 23.3% during the 3rd quarter. MML Investors Services LLC now owns 24,959 shares of the bank’s stock valued at $166,000 after acquiring an additional 4,720 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Itaú Unibanco by 1.3% in the third quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock worth $174,930,000 after acquiring an additional 346,390 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Itaú Unibanco by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock worth $338,016,000 after acquiring an additional 2,604,304 shares in the last quarter. Finally, Northcape Capital Pty Ltd boosted its position in Itaú Unibanco by 7.1% during the fourth quarter. Northcape Capital Pty Ltd now owns 9,765,549 shares of the bank’s stock valued at $48,437,000 after purchasing an additional 643,532 shares during the last quarter.

Itaú Unibanco Stock Performance

Shares of NYSE ITUB opened at $5.87 on Wednesday. The business’s 50-day simple moving average is $5.41 and its 200-day simple moving average is $5.24. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34. Itaú Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $6.30. The firm has a market cap of $63.28 billion, a price-to-earnings ratio of 7.53, a P/E/G ratio of 0.89 and a beta of 0.65.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. As a group, equities research analysts expect that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itaú Unibanco Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.0527 per share. This is a boost from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date was Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio is 2.82%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. HSBC upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 price objective on the stock in a report on Monday, January 13th. Finally, UBS Group raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Itaú Unibanco currently has a consensus rating of “Buy” and a consensus price target of $6.27.

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.