Itaú Unibanco Holding S.A. (NYSE:ITUB) Stake Trimmed by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda cut its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 76.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,662 shares of the bank's stock after selling 721,033 shares during the quarter. SPX Gestao de Recursos Ltda's holdings in Itaú Unibanco were worth $1,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ITUB. Van ECK Associates Corp grew its stake in Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after buying an additional 2,469 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Itaú Unibanco during the second quarter valued at $65,000. Daymark Wealth Partners LLC bought a new position in shares of Itaú Unibanco during the third quarter worth about $68,000. Quantinno Capital Management LP acquired a new stake in shares of Itaú Unibanco in the 3rd quarter worth about $68,000. Finally, MQS Management LLC bought a new stake in Itaú Unibanco in the 3rd quarter valued at about $70,000.

Itaú Unibanco Price Performance

ITUB traded down $0.11 on Friday, reaching $5.27. The company had a trading volume of 33,085,688 shares, compared to its average volume of 18,987,402. Itaú Unibanco Holding S.A. has a one year low of $5.25 and a one year high of $7.27. The company has a market capitalization of $51.65 billion, a P/E ratio of 6.76, a PEG ratio of 0.68 and a beta of 0.95. The company has a fifty day moving average of $5.95 and a 200-day moving average of $6.16. 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 Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's dividend payout ratio (DPR) is presently 46.15%.

Analyst Ratings Changes

Several research firms have commented on ITUB. JPMorgan Chase & Co. decreased their target price 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 lowered Itaú Unibanco from a "buy" rating to a "neutral" rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

About Itaú Unibanco

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.