Northcape Capital Pty Ltd Sells 442,327 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Northcape Capital Pty Ltd cut its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 4.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,122,017 shares of the bank's stock after selling 442,327 shares during the quarter. Itaú Unibanco accounts for about 9.0% of Northcape Capital Pty Ltd's portfolio, making the stock its 4th largest holding. Northcape Capital Pty Ltd owned about 0.09% of Itaú Unibanco worth $60,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ITUB. GAMMA Investing LLC lifted its position in shares of Itaú Unibanco by 67.0% during the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank's stock valued at $30,000 after buying an additional 1,755 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Itaú Unibanco by 571.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank's stock valued at $48,000 after buying an additional 5,862 shares in the last quarter. Bessemer Group Inc. purchased a new position in Itaú Unibanco in the 1st quarter valued at about $49,000. Sunpointe LLC acquired a new stake in Itaú Unibanco in the 4th quarter worth about $72,000. Finally, Daymark Wealth Partners LLC acquired a new position in shares of Itaú Unibanco during the third quarter valued at approximately $68,000.

Itaú Unibanco Trading Down 1.3 %

NYSE:ITUB traded down $0.08 on Friday, reaching $6.19. The company's stock had a trading volume of 17,819,896 shares, compared to its average volume of 17,948,902. Itaú Unibanco Holding S.A. has a 12-month low of $5.25 and a 12-month high of $7.27. The stock has a 50 day moving average price of $6.54 and a 200 day moving average price of $6.31. The firm has a market cap of $60.67 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $16.54 billion during the quarter, compared to analyst estimates of $7.72 billion. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco's dividend payout ratio (DPR) is 4.05%.

Analysts Set New Price Targets

ITUB has been the subject of several recent research reports. Morgan Stanley raised Itaú Unibanco from an "equal weight" rating to an "overweight" rating in a research note on Monday, June 17th. UBS Group downgraded Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.05.

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.