SPX Gestao de Recursos Ltda Cuts Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

SPX Gestao de Recursos Ltda reduced its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 76.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 224,662 shares of the bank’s stock after selling 721,033 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Itaú Unibanco were worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its holdings in shares of Itaú Unibanco by 6.1% in the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after buying an additional 2,886,508 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Itaú Unibanco by 14.8% during the second quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock valued at $221,505,000 after purchasing an additional 4,888,099 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Itaú Unibanco by 1.3% during the third quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock valued at $174,930,000 after purchasing an additional 346,390 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Itaú Unibanco by 2.3% during the second quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock valued at $134,606,000 after purchasing an additional 529,600 shares during the last quarter. Finally, FMR LLC lifted its holdings in Itaú Unibanco by 12,592.2% during the third quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after purchasing an additional 23,299,313 shares during the last quarter.

Analyst Ratings Changes

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

Itaú Unibanco Trading Down 0.7 %

Shares of Itaú Unibanco stock traded down $0.04 on Friday, hitting $5.34. The stock had a trading volume of 3,798,044 shares, compared to its average volume of 18,863,768. 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 one year low of $5.25 and a one year high of $7.27. The stock has a market cap of $52.34 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.68 and a beta of 0.95. The stock’s 50-day simple moving average is $5.98 and its two-hundred day simple moving average is $6.17.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 47.44%.

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.