Zurcher Kantonalbank Zurich Cantonalbank Has $633,000 Stock Position in Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Zurcher Kantonalbank reduced its stake in Itau Unibanco Holding S.A. by 39.2%, holding 115,043 shares valued at $633,000 following the sale of 74,286 shares in the first quarter.
• Other institutional investors, such as Baillie Gifford & Co. and Wealth Alliance LLC, increased their stakes in the bank, with Baillie Gifford raising its investment by 10.1%.
• Itau Unibanco recently declared a small dividend of $0.0024, representing a yield of 43.0%, with a payout ratio of only 4.23%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 39.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,043 shares of the bank's stock after selling 74,286 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Itau Unibanco were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Baillie Gifford & Co. lifted its stake in shares of Itau Unibanco by 10.1% in the first quarter. Baillie Gifford & Co. now owns 10,215,409 shares of the bank's stock worth $56,185,000 after buying an additional 934,823 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Itau Unibanco by 21.6% in the first quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank's stock worth $76,000 after buying an additional 2,468 shares during the last quarter. Wealth Alliance LLC lifted its stake in shares of Itau Unibanco by 24.7% in the first quarter. Wealth Alliance LLC now owns 68,777 shares of the bank's stock worth $378,000 after buying an additional 13,601 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Itau Unibanco by 10.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 3,439,139 shares of the bank's stock worth $18,915,000 after acquiring an additional 312,649 shares during the period. Finally, Pzena Investment Management LLC increased its position in Itau Unibanco by 10.0% during the first quarter. Pzena Investment Management LLC now owns 408,895 shares of the bank's stock worth $2,249,000 after acquiring an additional 37,170 shares during the period.

Analyst Ratings Changes

Separately, UBS Group reaffirmed a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th.

Itau Unibanco Trading Up 2.9%

Shares of ITUB stock opened at $6.67 on Thursday. Itau Unibanco Holding S.A. has a 1 year low of $4.42 and a 1 year high of $6.95. The firm's fifty day simple moving average is $6.54 and its 200 day simple moving average is $5.96. The firm has a market capitalization of $71.86 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.50%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. As a group, sell-side analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $0.0024 dividend. This represents a yield of 43.0%. The ex-dividend date of this dividend is Wednesday, July 2nd. Itau Unibanco's payout ratio is 4.23%.

Itau 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.

Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.