Envestnet Asset Management Inc. Sells 140,936 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Envestnet Asset Management Inc. cut its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052,062 shares of the bank's stock after selling 140,936 shares during the period. Envestnet Asset Management Inc.'s holdings in Itaú Unibanco were worth $5,218,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ITUB. Mount Yale Investment Advisors LLC acquired a new stake in shares of Itaú Unibanco in the fourth quarter valued at approximately $57,000. Signaturefd LLC raised its position in shares of Itaú Unibanco by 4,000.3% in the fourth quarter. Signaturefd LLC now owns 12,260 shares of the bank's stock valued at $61,000 after buying an additional 11,961 shares in the last quarter. Fielder Capital Group LLC raised its position in shares of Itaú Unibanco by 13.2% in the fourth quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank's stock valued at $85,000 after buying an additional 2,001 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Itaú Unibanco in the fourth quarter valued at approximately $94,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Itaú Unibanco by 18.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank's stock valued at $98,000 after buying an additional 3,089 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Itaú Unibanco Trading Up 1.1 %

Shares of ITUB stock traded up $0.07 during mid-day trading on Monday, reaching $6.21. 22,264,077 shares of the stock traded hands, compared to its average volume of 24,079,017. Itaú Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $6.30. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The company has a market cap of $66.95 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.65. The stock's fifty day simple moving average is $5.46 and its two-hundred day simple moving average is $5.25.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. On average, research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.0527 per share. This is an increase from Itaú Unibanco's previous dividend of $0.00. The ex-dividend date was Wednesday, February 19th. Itaú Unibanco's dividend payout ratio (DPR) is 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.