182,640 Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB) Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 182,640 shares of the bank's stock, valued at approximately $1,215,000.

Other hedge funds also recently bought and sold shares of the company. Financial Counselors Inc. raised its holdings in shares of Itaú Unibanco by 11.3% during the third quarter. Financial Counselors Inc. now owns 58,041 shares of the bank's stock valued at $386,000 after acquiring an additional 5,872 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Itaú Unibanco in the 3rd quarter worth $516,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Itaú Unibanco during the third quarter worth about $5,320,000. Blueshift Asset Management LLC raised its position in shares of Itaú Unibanco by 11.6% during the 3rd quarter. Blueshift Asset Management LLC now owns 41,990 shares of the bank's stock valued at $279,000 after buying an additional 4,379 shares during the period. Finally, Freedom Investment Management Inc. purchased a new stake in Itaú Unibanco in the third quarter valued at $90,000.

Wall Street Analysts Forecast Growth

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

Itaú Unibanco Trading Down 5.2 %

NYSE ITUB traded down $0.27 during trading on Wednesday, hitting $4.96. The stock had a trading volume of 51,636,250 shares, compared to its average volume of 19,265,385. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $48.61 billion, a PE ratio of 6.36, a PEG ratio of 0.68 and a beta of 0.95. The firm has a 50 day moving average price of $5.88 and a 200 day moving average price of $6.14. Itaú Unibanco Holding S.A. has a twelve month low of $4.90 and a twelve month high of $7.27.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco's dividend payout ratio (DPR) is currently 46.15%.

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.