State of New Jersey Common Pension Fund D Raises Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

State of New Jersey Common Pension Fund D increased its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 4.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,435,144 shares of the bank’s stock after purchasing an additional 206,831 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Itaú Unibanco were worth $30,824,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Channing Global Advisors LLC lifted its stake in shares of Itaú Unibanco by 23.6% during the fourth quarter. Channing Global Advisors LLC now owns 180,884 shares of the bank’s stock worth $1,257,000 after purchasing an additional 34,505 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Itaú Unibanco in the fourth quarter valued at approximately $23,769,000. HTLF Bank acquired a new stake in Itaú Unibanco during the 4th quarter valued at $83,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Itaú Unibanco by 54.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after buying an additional 2,838 shares during the period. Finally, Wealth Alliance boosted its position in Itaú Unibanco by 16.2% in the 4th quarter. Wealth Alliance now owns 62,095 shares of the bank’s stock valued at $432,000 after buying an additional 8,648 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on ITUB. HSBC downgraded Itaú Unibanco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, January 16th.

Itaú Unibanco Trading Up 3.1 %

Shares of ITUB stock traded up $0.19 during trading hours on Friday, reaching $6.30. The stock had a trading volume of 19,159,097 shares, compared to its average volume of 17,250,486. The firm has a 50-day simple moving average of $6.70 and a 200-day simple moving average of $6.45. Itaú Unibanco Holding S.A. has a twelve month low of $4.85 and a twelve month high of $7.27. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Monday, February 5th. The bank reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Itaú Unibanco had a net margin of 10.48% and a return on equity of 17.76%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $8.05 billion. Sell-side analysts anticipate that Itaú Unibanco Holding S.A. will post 0.82 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be issued a dividend of $0.003 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.04 annualized dividend and a yield of 0.57%. Itaú Unibanco’s payout ratio is 5.88%.

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.