Baker Avenue Asset Management LP Sells 115,800 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Baker Avenue Asset Management LP lessened its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 38.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,381 shares of the bank's stock after selling 115,800 shares during the quarter. Baker Avenue Asset Management LP's holdings in Itaú Unibanco were worth $929,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ITUB. Franklin Resources Inc. boosted its stake in Itaú Unibanco by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 28,389,460 shares of the bank's stock worth $140,812,000 after purchasing an additional 489,873 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Itaú Unibanco by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock worth $338,016,000 after purchasing an additional 2,604,304 shares in the last quarter. Haven Global Partners LLC acquired a new position in Itaú Unibanco during the fourth quarter worth $3,284,000. Walleye Capital LLC grew its position in Itaú Unibanco by 5,310.8% in the fourth quarter. Walleye Capital LLC now owns 783,968 shares of the bank's stock valued at $3,888,000 after purchasing an additional 769,479 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Itaú Unibanco by 3.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 39,658,215 shares of the bank's stock valued at $196,705,000 after buying an additional 1,286,014 shares during the last quarter.

Itaú Unibanco Stock Performance

Shares of ITUB traded up $0.39 during midday trading on Friday, reaching $6.61. 64,222,469 shares of the stock were exchanged, compared to its average volume of 24,399,684. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The stock's 50 day simple moving average is $5.67 and its 200 day simple moving average is $5.29. Itaú Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $6.62. The company has a market cap of $71.26 billion, a P/E ratio of 8.47, a PEG ratio of 0.89 and a beta of 0.76.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates of $43.07 billion. On average, sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 6th will be issued a $0.0024 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a yield of 0.46%. Itaú Unibanco's dividend payout ratio is presently 2.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ITUB shares. Hsbc Global Res upgraded Itaú Unibanco to a "strong-buy" rating in a report on Monday, January 13th. HSBC raised Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 price target on the stock in a research report on Monday, January 13th. Finally, UBS Group upgraded shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Itaú Unibanco presently has an average rating of "Buy" and an average price target of $6.27.

Itaú Unibanco Company Profile

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.