Raymond James Financial Inc. Invests $1.92 Million in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Raymond James Financial Inc. purchased a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 386,626 shares of the bank's stock, valued at approximately $1,918,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC acquired a new stake in shares of Itaú Unibanco during the 4th quarter worth $57,000. Quantinno Capital Management LP purchased a new stake in Itaú Unibanco during the third quarter valued at about $68,000. Fielder Capital Group LLC increased its stake in Itaú Unibanco by 13.2% during the fourth quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank's stock worth $85,000 after acquiring an additional 2,001 shares during the last quarter. Freedom Investment Management Inc. purchased a new position in shares of Itaú Unibanco in the 3rd quarter worth about $90,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Itaú Unibanco by 18.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank's stock valued at $98,000 after purchasing an additional 3,089 shares in the last quarter.

Analysts Set New Price Targets

ITUB has been the subject of a number of research analyst reports. HSBC raised shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 target price for the company in a research report on Monday, January 13th. Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. Finally, UBS Group raised shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $6.27.

Itaú Unibanco Stock Down 6.2 %

Shares of ITUB traded down $0.35 during trading on Friday, reaching $5.34. The company's stock had a trading volume of 25,110,025 shares, compared to its average volume of 23,581,610. The company has a market cap of $57.57 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 0.89 and a beta of 0.65. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The company has a fifty day moving average of $5.35 and a two-hundred day moving average of $5.29. Itaú Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $6.30.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. On average, sell-side analysts predict that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a dividend of $0.0527 per share. The ex-dividend date was Wednesday, February 19th. This is a boost from Itaú Unibanco's previous dividend of $0.00. Itaú Unibanco's dividend payout ratio is presently 2.82%.

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.