Baillie Gifford & Co. Sells 275,789 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Baillie Gifford & Co. trimmed its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,280,586 shares of the bank's stock after selling 275,789 shares during the quarter. Baillie Gifford & Co. owned 0.09% of Itaú Unibanco worth $46,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised its stake in shares of Itaú Unibanco by 16.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank's stock valued at $103,000 after purchasing an additional 2,250 shares during the period. Van ECK Associates Corp grew its position in Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after buying an additional 2,469 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Itaú Unibanco by 4.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank's stock worth $382,000 after buying an additional 2,500 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Itaú Unibanco by 18.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank's stock worth $98,000 after buying an additional 3,089 shares in the last quarter. Finally, Spire Wealth Management grew its position 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 in the last quarter.

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Itaú Unibanco Price Performance

Shares of ITUB traded down $0.04 during midday trading on Friday, reaching $5.73. The stock had a trading volume of 24,814,775 shares, compared to its average volume of 25,994,059. The company's 50-day moving average is $5.42 and its 200 day moving average is $5.96. Itaú Unibanco Holding S.A. has a 12-month low of $4.86 and a 12-month high of $7.07. 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 capitalization of $56.11 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 0.89 and a beta of 0.95.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last released its earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. On average, equities analysts predict that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a $0.058 dividend. The ex-dividend date is Wednesday, February 19th. This is a positive change from Itaú Unibanco's previous dividend of $0.00. Itaú Unibanco's payout ratio is 73.08%.

Analyst Upgrades and Downgrades

ITUB has been the subject of several recent analyst reports. Hsbc Global Res upgraded Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. UBS Group upgraded Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. HSBC upgraded Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 target price for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price objective on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $6.90.

Itaú Unibanco 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.