State of New Jersey Common Pension Fund D lowered its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,840,572 shares of the bank's stock after selling 207,261 shares during the period. State of New Jersey Common Pension Fund D's holdings in Itaú Unibanco were worth $14,089,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock valued at $38,000 after buying an additional 2,469 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Itaú Unibanco in the fourth quarter worth about $57,000. Quantinno Capital Management LP acquired a new position in Itaú Unibanco in the third quarter worth about $68,000. MQS Management LLC acquired a new position in Itaú Unibanco in the third quarter worth about $70,000. Finally, Raymond James Trust N.A. acquired a new position in Itaú Unibanco in the third quarter worth about $81,000.
Itaú Unibanco Price Performance
Itaú Unibanco stock traded down $0.04 during trading hours on Friday, hitting $5.73. 24,814,775 shares of the stock were exchanged, compared to its average volume of 25,994,059. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34. The stock has a market capitalization of $56.11 billion, a P/E ratio of 7.34, a P/E/G ratio of 0.89 and a beta of 0.95. Itaú Unibanco Holding S.A. has a 12 month low of $4.86 and a 12 month high of $7.07. The business's 50-day moving average is $5.42 and its two-hundred day moving average is $5.96.
Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The bank reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. Equities research analysts expect that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.
Itaú Unibanco Increases Dividend
The business also recently declared a dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.058 per share. This is a boost from Itaú Unibanco's previous dividend of $0.00. The ex-dividend date of this dividend is Wednesday, February 19th. Itaú Unibanco's dividend payout ratio is 73.08%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ITUB. HSBC raised shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 price target for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price target 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 raised shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a research note on Monday, January 13th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Itaú Unibanco presently has an average rating of "Buy" and an average target price of $6.90.
Read Our Latest Analysis on Itaú Unibanco
Itaú Unibanco Company Profile
(
Free Report)
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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