Ameriprise Financial Inc. Reduces Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Ameriprise Financial Inc. reduced its position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 72.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,409,296 shares of the bank's stock after selling 6,327,854 shares during the quarter. Ameriprise Financial Inc.'s holdings in Itaú Unibanco were worth $11,955,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Franklin Resources Inc. grew its stake in shares of Itaú Unibanco by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 28,389,460 shares of the bank's stock valued at $140,812,000 after purchasing an additional 489,873 shares during the last quarter. JPMorgan Chase & Co. grew its position in Itaú Unibanco by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock valued at $338,016,000 after buying an additional 2,604,304 shares during the last quarter. Haven Global Partners LLC acquired a new position in Itaú Unibanco in the 4th quarter valued at $3,284,000. Walleye Capital LLC raised its position in Itaú Unibanco by 5,310.8% during the 4th quarter. Walleye Capital LLC now owns 783,968 shares of the bank's stock worth $3,888,000 after buying an additional 769,479 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of 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 worth $196,705,000 after acquiring an additional 1,286,014 shares during the period.

Itaú Unibanco Stock Performance

NYSE ITUB traded up $0.06 during trading hours on Friday, hitting $6.67. 38,437,408 shares of the stock were exchanged, compared to its average volume of 25,308,845. 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 $71.86 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.89 and a beta of 0.76. Itaú Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $6.85. The stock has a 50-day moving average of $5.94 and a 200 day moving average of $5.36.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued 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 return on equity of 19.46% and a net margin of 12.25%. The business had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $43.07 billion. As a group, equities research analysts forecast 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 declared a dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 6th will be issued a $0.0024 dividend. The ex-dividend date is Monday, May 5th. This represents a dividend yield of 0.46%. Itaú Unibanco's dividend payout ratio is presently 2.82%.

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.