Raymond James & Associates Grows Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Raymond James & Associates grew its position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 29.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 412,720 shares of the bank's stock after buying an additional 93,904 shares during the period. Raymond James & Associates' holdings in Itaú Unibanco were worth $2,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITUB. Blue Trust Inc. boosted its position in Itaú Unibanco by 33.1% during the third quarter. Blue Trust Inc. now owns 47,055 shares of the bank's stock worth $313,000 after purchasing an additional 11,712 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Itaú Unibanco by 4.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank's stock valued at $382,000 after purchasing an additional 2,500 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Itaú Unibanco during the third quarter valued at about $113,000. Creative Planning lifted its holdings in shares of Itaú Unibanco by 33.5% during the third quarter. Creative Planning now owns 14,941 shares of the bank's stock worth $99,000 after purchasing an additional 3,753 shares during the period. Finally, First Affirmative Financial Network boosted its stake in shares of Itaú Unibanco by 85.0% in the 3rd quarter. First Affirmative Financial Network now owns 24,120 shares of the bank's stock valued at $160,000 after purchasing an additional 11,080 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, UBS Group downgraded shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a report on Thursday, August 22nd.

Itaú Unibanco Stock Performance

Shares of NYSE:ITUB traded up $0.21 during mid-day trading on Tuesday, reaching $6.29. The company had a trading volume of 59,463,512 shares, compared to its average volume of 18,103,791. Itaú Unibanco Holding S.A. has a one year low of $5.62 and a one year high of $7.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The company's 50-day moving average price is $6.45 and its 200-day moving average price is $6.27. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.77 and a beta of 0.98.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 EPS 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 the consensus estimate of $7.72 billion. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. During the same period last year, the firm earned $0.18 EPS. As a group, equities research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's dividend payout ratio is currently 3.95%.

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.