Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC cut its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 35.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,373,676 shares of the bank's stock after selling 5,713,806 shares during the quarter. Driehaus Capital Management LLC owned 0.11% of Itaú Unibanco worth $51,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Metis Global Partners LLC increased its position in Itaú Unibanco by 7.4% during the fourth quarter. Metis Global Partners LLC now owns 27,876 shares of the bank's stock worth $138,000 after purchasing an additional 1,925 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in Itaú Unibanco by 13.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock valued at $84,000 after purchasing an additional 2,000 shares during the period. Fielder Capital Group LLC grew its holdings in shares of Itaú Unibanco by 13.2% during the 4th quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank's stock worth $85,000 after purchasing an additional 2,001 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Itaú Unibanco by 18.5% in the 4th 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 during the period. Finally, Spire Wealth Management boosted its stake in Itaú Unibanco by 8.2% during the fourth quarter. Spire Wealth Management now owns 44,738 shares of the bank's stock worth $222,000 after buying an additional 3,405 shares during the period.

Itaú Unibanco Stock Performance

Itaú Unibanco stock opened at $6.10 on Thursday. The company has a market capitalization of $65.76 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.89 and a beta of 0.76. The stock has a fifty day moving average of $5.61 and a two-hundred day moving average of $5.28. Itaú Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $6.37. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34.

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

Itaú Unibanco Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. UBS Group upgraded shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Finally, HSBC raised 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. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $6.27.

Itaú 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.

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