Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 45.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,627 shares of the bank’s stock after selling 27,573 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Itau Unibanco were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Legacy Financial Advisors Inc. purchased a new stake in Itau Unibanco in the fourth quarter worth about $46,000. Cornerstone Advisors Inc. lifted its stake in Itau Unibanco by 67.7% in the fourth quarter. Cornerstone Advisors Inc. now owns 5,442 shares of the bank’s stock worth $50,000 after acquiring an additional 2,197 shares during the period. Shine Investment Advisory Services Inc. lifted its stake in Itau Unibanco by 50.0% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 6,890 shares of the bank’s stock worth $63,000 after acquiring an additional 2,296 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Itau Unibanco by 143.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the bank’s stock worth $110,000 after acquiring an additional 5,889 shares during the period. Finally, WP Advisors LLC lifted its stake in Itau Unibanco by 50.0% in the fourth quarter. WP Advisors LLC now owns 10,605 shares of the bank’s stock worth $97,000 after acquiring an additional 3,535 shares during the period. Institutional investors and hedge funds own 4.13% of the company’s stock.
Shares of ITUB stock traded down $0.16 during mid-day trading on Monday, hitting $9.78. 132,736 shares of the stock traded hands, compared to its average volume of 19,369,148. The firm has a market cap of $96.56 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.37 and a beta of 1.12. Itau Unibanco Holding SA has a 52-week low of $6.57 and a 52-week high of $11.01. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.77 and a current ratio of 1.77.
The business also recently disclosed a monthly dividend, which will be paid on Monday, March 18th. Investors of record on Monday, February 25th will be given a $0.2841 dividend. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00. This represents a $3.41 annualized dividend and a dividend yield of 34.85%. The ex-dividend date is Friday, February 22nd. Itau Unibanco’s dividend payout ratio (DPR) is presently 7.58%.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, February 1st. ValuEngine lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Bank of America lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 5th. Morgan Stanley raised shares of Itau Unibanco from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 9th. Finally, HSBC lowered shares of Itau Unibanco from a “hold” rating to a “reduce” rating in a research report on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.00.
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Itau Unibanco Company Profile
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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