Public Employees Retirement System of Ohio Invests $40.69 Million in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Public Employees Retirement System of Ohio acquired a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,118,001 shares of the bank's stock, valued at approximately $40,685,000. Public Employees Retirement System of Ohio owned about 0.06% of Itaú Unibanco at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock valued at $38,000 after purchasing an additional 2,469 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Itaú Unibanco during the third quarter worth $68,000. Daymark Wealth Partners LLC bought a new stake in shares of Itaú Unibanco in the third quarter valued at about $68,000. MQS Management LLC acquired a new position in shares of Itaú Unibanco in the third quarter valued at about $70,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Itaú Unibanco during the second quarter worth about $65,000.

Itaú Unibanco Price Performance

ITUB stock traded up $0.13 during mid-day trading on Tuesday, hitting $5.51. The stock had a trading volume of 26,233,793 shares, compared to its average volume of 18,670,588. The firm has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $6.18. The firm has a market capitalization of $53.95 billion, a P/E ratio of 7.05, a P/E/G ratio of 0.70 and a beta of 0.95. 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 Holding S.A. has a 52 week low of $5.25 and a 52 week high of $7.27.

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 dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's payout ratio is presently 46.15%.

Analyst Upgrades and Downgrades

ITUB has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. UBS Group lowered Itaú Unibanco from a "buy" rating to a "neutral" rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.50.

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.