Baillie Gifford & Co. Cuts Stake in Itau Unibanco Holding S.A. $ITUB

Baillie Gifford & Co. cut its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,883,816 shares of the bank’s stock after selling 264,715 shares during the period. Baillie Gifford & Co. owned 0.09% of Itau Unibanco worth $72,547,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Oaktree Capital Management LP boosted its holdings in Itau Unibanco by 58.5% in the second quarter. Oaktree Capital Management LP now owns 11,004,494 shares of the bank’s stock worth $74,721,000 after acquiring an additional 4,063,482 shares in the last quarter. Creative Planning increased its holdings in shares of Itau Unibanco by 65.3% during the second quarter. Creative Planning now owns 161,847 shares of the bank’s stock valued at $1,099,000 after acquiring an additional 63,920 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Itau Unibanco by 3,590.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock valued at $29,000 after purchasing an additional 4,201 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Itau Unibanco by 39.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 57,624,188 shares of the bank’s stock worth $422,962,000 after purchasing an additional 16,339,845 shares in the last quarter. Finally, Cullen Capital Management LLC purchased a new stake in Itau Unibanco during the 2nd quarter worth approximately $4,586,000.

Itau Unibanco Price Performance

NYSE:ITUB opened at $8.28 on Friday. The firm’s fifty day moving average is $7.32 and its two-hundred day moving average is $6.95. The firm has a market cap of $91.70 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.98 and a beta of 0.65. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. Itau Unibanco Holding S.A. has a one year low of $4.73 and a one year high of $8.31.

Itau Unibanco Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.0032 per share. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 2nd. Itau Unibanco’s dividend payout ratio (DPR) is 4.29%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ITUB shares. JPMorgan Chase & Co. raised their price target on shares of Itau Unibanco from $6.80 to $7.77 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday, December 29th. Finally, Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Itau Unibanco has an average rating of “Buy” and an average price target of $7.77.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.