Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lowered its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 868,924 shares of the bank's stock after selling 177,188 shares during the period. Deprince Race & Zollo Inc.'s holdings in Itaú Unibanco were worth $4,310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ITUB. FMR LLC grew its holdings in Itaú Unibanco by 117.4% in the 4th quarter. FMR LLC now owns 51,044,340 shares of the bank's stock worth $253,180,000 after acquiring an additional 27,559,997 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 2,604,304 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Itaú Unibanco by 9.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 48,018,726 shares of the bank's stock worth $238,173,000 after buying an additional 4,151,459 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Itaú Unibanco by 3.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 39,658,215 shares of the bank's stock worth $196,705,000 after buying an additional 1,286,014 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Itaú Unibanco by 1.8% in the fourth quarter. Franklin Resources Inc. now owns 28,389,460 shares of the bank's stock worth $140,812,000 after buying an additional 489,873 shares during the last quarter.

Analysts Set New Price Targets

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

Itaú Unibanco Price Performance

Itaú Unibanco stock traded up $0.18 during mid-day trading on Tuesday, reaching $6.63. 27,168,893 shares of the company's stock traded hands, compared to its average volume of 24,514,707. The company has a market cap of $71.48 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.89 and a beta of 0.76. The stock has a 50 day moving average of $5.70 and a two-hundred day moving average of $5.30. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $6.66.

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

Itaú Unibanco Cuts Dividend

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

Itaú Unibanco 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.