Invesco Ltd. Sells 173,145 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Invesco Ltd. lessened its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 368,494 shares of the bank's stock after selling 173,145 shares during the quarter. Invesco Ltd.'s holdings in Itaú Unibanco were worth $1,828,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ITUB. Metis Global Partners LLC grew its holdings in shares of Itaú Unibanco by 7.4% during the 4th quarter. Metis Global Partners LLC now owns 27,876 shares of the bank's stock valued at $138,000 after purchasing an additional 1,925 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of Itaú Unibanco by 13.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock valued at $84,000 after acquiring an additional 2,000 shares during the last quarter. Fielder Capital Group LLC lifted its stake in shares of Itaú Unibanco by 13.2% in the 4th quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank's stock valued at $85,000 after acquiring an additional 2,001 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Itaú Unibanco by 18.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank's stock valued at $98,000 after acquiring an additional 3,089 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in Itaú Unibanco by 8.2% in the 4th quarter. Spire Wealth Management now owns 44,738 shares of the bank's stock worth $222,000 after purchasing an additional 3,405 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ITUB shares. HSBC upgraded shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 target price on the stock in a research report on Monday, January 13th. Hsbc Global Res upgraded Itaú Unibanco to a "strong-buy" rating 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 research report on Friday, January 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Itaú Unibanco currently has an average rating of "Buy" and a consensus target price of $6.27.

Itaú Unibanco Stock Up 0.7 %

NYSE ITUB traded up $0.05 on Monday, hitting $6.25. 1,308,504 shares of the company were exchanged, compared to its average volume of 26,636,412. The company has a current ratio of 1.34, a quick ratio of 1.75 and a debt-to-equity ratio of 2.32. The company has a market cap of $67.33 billion, a PE ratio of 8.01, a PEG ratio of 0.89 and a beta of 0.65. The stock has a fifty day moving average of $5.55 and a 200-day moving average of $5.27. Itaú Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $6.37.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. As a group, 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 given a $0.0024 dividend. This represents a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, May 5th. Itaú Unibanco's dividend payout ratio (DPR) 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.