Victory Capital Management Inc. Grows Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Victory Capital Management Inc. grew its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,694,591 shares of the bank's stock after buying an additional 533,714 shares during the period. Victory Capital Management Inc. owned 0.07% of Itaú Unibanco worth $44,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in Itaú Unibanco by 460.6% during the 1st quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank's stock valued at $105,766,000 after buying an additional 12,539,737 shares during the period. Marshall Wace LLP grew its holdings in Itaú Unibanco by 200.4% during the 2nd quarter. Marshall Wace LLP now owns 7,679,311 shares of the bank's stock worth $44,847,000 after acquiring an additional 5,122,752 shares in the last quarter. William Blair Investment Management LLC increased its position in Itaú Unibanco by 14.8% during the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank's stock valued at $221,505,000 after purchasing an additional 4,888,099 shares during the period. Capital World Investors boosted its stake in shares of Itaú Unibanco by 64.4% during the first quarter. Capital World Investors now owns 8,654,237 shares of the bank's stock valued at $59,974,000 after purchasing an additional 3,390,463 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in Itaú Unibanco by 77.5% during the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank's stock valued at $41,549,000 after buying an additional 3,106,130 shares during the period.

Itaú Unibanco Stock Up 0.8 %

Itaú Unibanco stock traded up $0.05 during midday trading on Friday, reaching $5.96. The company's stock had a trading volume of 13,673,367 shares, compared to its average volume of 18,261,381. The business has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $6.26. The company has a market cap of $58.41 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.77 and a beta of 0.98. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.62 and a fifty-two week high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's payout ratio is 3.85%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered 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 note on Thursday, November 7th. UBS Group cut Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

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.