Financial Counselors Inc. Boosts Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Financial Counselors Inc. lifted its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,041 shares of the bank’s stock after purchasing an additional 5,872 shares during the period. Financial Counselors Inc.’s holdings in Itaú Unibanco were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after buying an additional 2,469 shares in the last quarter. Daymark Wealth Partners LLC purchased a new stake in shares of Itaú Unibanco during the third quarter worth approximately $68,000. MQS Management LLC acquired a new position in Itaú Unibanco in the 3rd quarter valued at $70,000. Dynamic Advisor Solutions LLC purchased a new position in Itaú Unibanco in the 2nd quarter valued at $65,000. Finally, Raymond James Trust N.A. acquired a new stake in Itaú Unibanco during the 3rd quarter worth $81,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Itaú Unibanco currently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Itaú Unibanco Stock Down 6.6 %

NYSE ITUB opened at $5.36 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 52 week low of $5.28 and a 52 week high of $7.27. The business’s fifty day simple moving average is $6.19 and its 200-day simple moving average is $6.23. The firm has a market cap of $52.53 billion, a PE ratio of 6.87, a P/E/G ratio of 0.75 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is 3.85%.

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.