Moran Wealth Management LLC cut its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 710,138 shares of the bank's stock after selling 48,539 shares during the quarter. Moran Wealth Management LLC's holdings in Itaú Unibanco were worth $3,522,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank's stock valued at $156,171,000 after buying an additional 23,299,313 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Itaú Unibanco during the 3rd quarter worth $40,685,000. Fisher Asset Management LLC grew its position in Itaú Unibanco by 6.1% during the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank's stock worth $336,408,000 after purchasing an additional 2,886,508 shares during the last quarter. JPMorgan Chase & Co. grew its position in Itaú Unibanco by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock worth $338,016,000 after purchasing an additional 2,604,304 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Itaú Unibanco by 38.8% during the 3rd quarter. Two Sigma Advisers LP now owns 6,367,875 shares of the bank's stock worth $42,346,000 after purchasing an additional 1,779,300 shares during the last quarter.
Itaú Unibanco Price Performance
Shares of NYSE ITUB traded down $0.04 during midday trading on Wednesday, hitting $5.62. The company had a trading volume of 13,500,478 shares, compared to its average volume of 24,889,244. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a twelve month low of $4.86 and a twelve month high of $7.04. The business has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $5.88. The firm has a market capitalization of $55.03 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.
Itaú Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. Equities research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.
Itaú Unibanco Increases Dividend
The business also recently announced a dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.058 dividend. This is an increase from Itaú Unibanco's previous dividend of $0.00. The ex-dividend date of this dividend is Wednesday, February 19th. Itaú Unibanco's payout ratio is presently 2.56%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ITUB shares. UBS Group raised shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. HSBC raised shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 target price on the stock in a report on Monday, January 13th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $6.90.
Read Our Latest Research Report on ITUB
About Itaú Unibanco
(
Free Report)
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.
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