Franklin Resources Inc. Purchases 346,390 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Franklin Resources Inc. boosted its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,899,587 shares of the bank's stock after acquiring an additional 346,390 shares during the quarter. Franklin Resources Inc. owned 0.28% of Itaú Unibanco worth $174,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Itaú Unibanco during the second quarter worth about $165,000. Wealth Enhancement Advisory Services LLC grew its stake in Itaú Unibanco by 19.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,668 shares of the bank's stock worth $232,000 after buying an additional 6,412 shares during the last quarter. Blue Trust Inc. grew its stake in Itaú Unibanco by 48.4% during the second quarter. Blue Trust Inc. now owns 35,343 shares of the bank's stock worth $206,000 after buying an additional 11,519 shares during the last quarter. Wealth Advisory Solutions LLC bought a new stake in Itaú Unibanco during the second quarter worth about $83,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Itaú Unibanco by 105.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 14,172 shares of the bank's stock worth $83,000 after buying an additional 7,284 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ITUB. 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. decreased their price target on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.50.

Itaú Unibanco Price Performance

Shares of ITUB traded down $0.11 during mid-day trading on Friday, hitting $5.27. 33,085,688 shares of the company traded hands, compared to its average volume of 18,987,402. The business has a 50-day moving average of $5.95 and a 200 day moving average of $6.16. Itaú Unibanco Holding S.A. has a one year low of $5.25 and a one year high of $7.27. The stock has a market capitalization of $51.65 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 0.68 and a beta of 0.95. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco's dividend payout ratio is currently 46.15%.

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.