Verition Fund Management LLC Invests $868,000 in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Verition Fund Management LLC purchased a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 130,528 shares of the bank's stock, valued at approximately $868,000.

Several other hedge funds have also recently modified their holdings of ITUB. Driehaus Capital Management LLC raised its stake in shares of Itaú Unibanco by 77.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank's stock worth $41,549,000 after acquiring an additional 3,106,130 shares in the last quarter. Perpetual Ltd boosted its position in shares of Itaú Unibanco by 9.0% in the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank's stock worth $90,638,000 after purchasing an additional 1,126,695 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Itaú Unibanco by 2.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank's stock worth $134,606,000 after purchasing an additional 529,600 shares in the last quarter. Fisher Asset Management LLC increased its position in Itaú Unibanco by 6.1% during the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank's stock valued at $336,408,000 after buying an additional 2,886,508 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Itaú Unibanco in the third quarter worth about $925,000.

Itaú Unibanco Stock Performance

Shares of Itaú Unibanco stock traded up $0.13 during trading on Tuesday, hitting $5.51. 26,233,793 shares of the company's stock were exchanged, compared to its average volume of 18,670,588. The stock has a market capitalization of $53.95 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 0.70 and a beta of 0.95. The business has a 50-day simple moving average of $6.04 and a 200-day simple moving average of $6.18. Itaú Unibanco Holding S.A. has a 52-week low of $5.25 and a 52-week high of $7.27. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be given a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco's dividend payout ratio is presently 46.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ITUB shares. 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 lowered Itaú Unibanco from a "buy" rating to a "neutral" rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.