Price T Rowe Associates Inc. MD Cuts Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Price T Rowe Associates Inc. MD reduced its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 71.3% during the 4th quarter, according to its most recent filing with the SEC. The firm 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 approximately 0.06% of Itaú Unibanco worth $27,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITUB. Bessemer Group Inc. acquired a new stake in Itaú Unibanco during the fourth quarter worth about $35,000. Mount Yale Investment Advisors LLC purchased a new stake in Itaú Unibanco during the fourth quarter worth $57,000. Signaturefd LLC grew its position in Itaú Unibanco by 4,000.3% during the fourth quarter. Signaturefd LLC now owns 12,260 shares of the bank's stock valued at $61,000 after buying an additional 11,961 shares during the period. Sagespring Wealth Partners LLC purchased a new position in Itaú Unibanco in the fourth quarter valued at $67,000. Finally, Peapack Gladstone Financial Corp raised its holdings 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 purchasing an additional 2,000 shares during the period.

Itaú Unibanco Trading Down 1.4 %

Shares of NYSE ITUB traded down $0.09 during midday trading on Friday, reaching $6.20. 16,978,061 shares of the stock were exchanged, compared to its average volume of 24,185,081. The stock has a market capitalization of $66.84 billion, a P/E ratio of 7.95, a PEG ratio of 0.89 and a beta of 0.65. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34. The company has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $5.27. Itaú Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $6.37.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its earnings results 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 net margin of 12.25% and a return on equity of 19.46%. As a group, equities analysts expect 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 announced a dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 6th will be issued a $0.0024 dividend. The ex-dividend date is Monday, May 5th. This represents a yield of 0.46%. Itaú Unibanco's dividend payout ratio (DPR) is presently 2.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ITUB shares. HSBC upgraded 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 raised shares of Itaú Unibanco to a "strong-buy" rating in a research note on Monday, January 13th. Finally, UBS Group raised Itaú Unibanco from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Itaú Unibanco presently has an average rating of "Buy" and an average target price of $6.27.

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.