Pzena Investment Management LLC Raises Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Pzena Investment Management LLC boosted its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 61.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,725 shares of the bank's stock after purchasing an additional 141,061 shares during the quarter. Pzena Investment Management LLC's holdings in Itaú Unibanco were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL purchased a new position in shares of Itaú Unibanco in the 1st quarter worth approximately $183,000. O Shaughnessy Asset Management LLC boosted its stake in Itaú Unibanco by 40.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 211,008 shares of the bank's stock valued at $1,462,000 after acquiring an additional 60,266 shares in the last quarter. Seven Eight Capital LP purchased a new position in Itaú Unibanco in the first quarter worth $510,000. Bessemer Group Inc. acquired a new position in shares of Itaú Unibanco during the first quarter worth $49,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Itaú Unibanco during the 1st quarter valued at $117,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITUB. JPMorgan Chase & Co. decreased their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. UBS Group cut shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.50.

Itaú Unibanco Price Performance

Shares of NYSE:ITUB opened at $5.96 on Thursday. Itaú Unibanco Holding S.A. has a twelve month low of $5.62 and a twelve month high of $7.27. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a market cap of $58.41 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. The company's 50 day moving average is $6.31 and its 200 day moving average is $6.26.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Stockholders 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 payout ratio is currently 3.85%.

Itaú Unibanco 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.

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