Matthews International Capital Management LLC Sells 106,847 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Matthews International Capital Management LLC cut its position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,201 shares of the bank's stock after selling 106,847 shares during the quarter. Matthews International Capital Management LLC's holdings in Itaú Unibanco were worth $636,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Itaú Unibanco by 12,592.2% during the third quarter. FMR LLC now owns 23,484,343 shares of the bank's stock worth $156,171,000 after acquiring an additional 23,299,313 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Itaú Unibanco in the third quarter valued at approximately $40,685,000. Fisher Asset Management LLC boosted 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 valued at $336,408,000 after buying an additional 2,886,508 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Itaú Unibanco by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock valued at $338,016,000 after buying an additional 2,604,304 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Itaú Unibanco by 74.5% during the second quarter. Millennium Management LLC now owns 4,753,825 shares of the bank's stock worth $27,762,000 after acquiring an additional 2,029,103 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ITUB shares. HSBC upgraded Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 target price on the stock in a research note on Monday, January 13th. UBS Group raised Itaú Unibanco from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Hsbc Global Res raised Itaú Unibanco to a "strong-buy" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $6.90.

Itaú Unibanco Trading Up 1.2 %

Shares of ITUB stock traded up $0.07 during trading hours on Tuesday, reaching $5.69. The company's stock had a trading volume of 31,137,827 shares, compared to its average volume of 24,005,119. The stock has a market capitalization of $55.72 billion, a P/E ratio of 7.29, a P/E/G ratio of 0.62 and a beta of 0.95. Itaú Unibanco Holding S.A. has a one year low of $4.86 and a one year high of $7.27. The firm's fifty day simple moving average is $5.32 and its 200 day simple moving average is $5.99. 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 Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 4th will be given a $0.0029 dividend. This is a positive change from Itaú Unibanco's previous dividend of $0.00. The ex-dividend date is Tuesday, February 4th. Itaú Unibanco's dividend payout ratio (DPR) 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.