Price T Rowe Associates Inc. MD cut its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 71.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,606,503 shares of the bank's stock after selling 13,941,543 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Itaú Unibanco worth $27,809,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new stake in Itaú Unibanco during the 4th quarter worth about $35,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Itaú Unibanco during the 4th quarter worth $57,000. Signaturefd LLC grew 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 purchasing an additional 11,961 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Itaú Unibanco in the fourth quarter valued at $67,000. Finally, Peapack Gladstone Financial Corp boosted its stake in Itaú Unibanco by 13.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock worth $84,000 after buying an additional 2,000 shares during the last quarter.
Analyst Ratings Changes
ITUB has been the topic of several research analyst reports. UBS Group raised shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. HSBC raised 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. Finally, Hsbc Global Res raised Itaú Unibanco to a "strong-buy" rating 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $6.27.
Check Out Our Latest Stock Analysis on ITUB
Itaú Unibanco Trading Down 0.7 %
Shares of ITUB stock traded down $0.05 during mid-day trading on Tuesday, reaching $6.11. The company's stock had a trading volume of 5,391,237 shares, compared to its average volume of 24,097,549. The company's 50 day simple moving average is $5.57 and its 200-day simple moving average is $5.27. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $6.37. The firm has a market capitalization of $65.82 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 0.89 and a beta of 0.76.
Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The bank reported $0.17 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 predict that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.
Itaú Unibanco Cuts Dividend
The business also recently declared a dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 6th will be issued a $0.0024 dividend. This represents a yield of 0.46%. The ex-dividend date is Monday, May 5th. Itaú Unibanco's dividend payout ratio is presently 2.82%.
Itaú Unibanco Company Profile
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Free Report)
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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