Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Purchased by State Street Corp

State Street Corp grew its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 7.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,522,486 shares of the bank's stock after purchasing an additional 861,500 shares during the period. State Street Corp owned 0.13% of Itaú Unibanco worth $83,899,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quantinno Capital Management LP acquired a new stake in Itaú Unibanco during the third quarter worth about $68,000. HighTower Advisors LLC grew its holdings in shares of Itaú Unibanco by 23.2% during the third quarter. HighTower Advisors LLC now owns 25,586 shares of the bank's stock valued at $169,000 after purchasing an additional 4,823 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Itaú Unibanco during the 3rd quarter worth approximately $863,000. Verition Fund Management LLC bought a new stake in shares of Itaú Unibanco in the 3rd quarter worth approximately $868,000. Finally, Captrust Financial Advisors boosted its position in Itaú Unibanco by 23.7% during the 3rd quarter. Captrust Financial Advisors now owns 23,967 shares of the bank's stock valued at $159,000 after purchasing an additional 4,592 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ITUB shares. UBS Group lowered Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.50.

Itaú Unibanco Stock Performance

ITUB traded up $0.02 during trading hours on Tuesday, hitting $5.23. The company's stock had a trading volume of 43,116,855 shares, compared to its average volume of 19,132,172. The company has a 50-day simple moving average of $5.93 and a 200 day simple moving average of $6.16. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $51.26 billion, a PE ratio of 6.66, a PEG ratio of 0.68 and a beta of 0.95. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.13 and a fifty-two week high of $7.27.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's dividend payout ratio (DPR) is 46.15%.

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.