Fmr LLC Acquires 23,299,313 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

FMR LLC grew its position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 12,592.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,484,343 shares of the bank's stock after purchasing an additional 23,299,313 shares during the period. FMR LLC owned about 0.24% of Itaú Unibanco worth $156,171,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Itaú Unibanco by 6.1% during the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank's stock worth $336,408,000 after acquiring an additional 2,886,508 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Itaú Unibanco by 14.8% during the second quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank's stock worth $221,505,000 after acquiring an additional 4,888,099 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in Itaú Unibanco by 2.3% in the second quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank's stock valued at $134,606,000 after purchasing an additional 529,600 shares in the last quarter. Perpetual Ltd grew its position in Itaú Unibanco by 9.0% in the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank's stock valued at $90,638,000 after purchasing an additional 1,126,695 shares in the last quarter. Finally, Northcape Capital Pty Ltd grew its position in Itaú Unibanco by 5.7% in the second quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank's stock valued at $55,856,000 after purchasing an additional 519,529 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ITUB shares. UBS Group cut shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. cut their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $7.50.

Itaú Unibanco Stock Up 0.3 %

Shares of NYSE ITUB traded up $0.02 during trading on Wednesday, hitting $5.37. The stock had a trading volume of 41,490,643 shares, compared to its average volume of 18,520,801. The company has a market capitalization of $52.58 billion, a PE ratio of 6.88, a PEG ratio of 0.69 and a beta of 0.95. The firm has a fifty day moving average of $6.11 and a two-hundred day moving average of $6.20. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a 12 month low of $5.25 and a 12 month high of $7.27.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's payout ratio is currently 3.85%.

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.