Wexford Capital LP bought a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 323,625 shares of the bank's stock, valued at approximately $2,152,000.
Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp increased its holdings in Itaú Unibanco by 68.5% in the 3rd 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 period. Quantinno Capital Management LP bought a new stake in Itaú Unibanco during the 3rd quarter worth about $68,000. Daymark Wealth Partners LLC bought a new position in Itaú Unibanco in the third quarter valued at approximately $68,000. MQS Management LLC acquired a new stake in shares of Itaú Unibanco during the third quarter worth $70,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Itaú Unibanco in the 2nd quarter valued at approximately $65,000.
Analyst Ratings Changes
Several brokerages recently commented on ITUB. JPMorgan Chase & Co. dropped their price objective on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. UBS Group downgraded shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a report on Thursday, August 22nd. Two 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.com, Itaú Unibanco has an average rating of "Moderate Buy" and an average price target of $7.50.
Read Our Latest Analysis on ITUB
Itaú Unibanco Price Performance
Shares of ITUB traded down $0.16 during trading hours on Friday, hitting $5.37. 28,927,381 shares of the company were exchanged, compared to its average volume of 21,288,618. The company has a market cap of $52.63 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 0.70 and a beta of 0.95. 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 Holding S.A. has a fifty-two week low of $5.25 and a fifty-two week high of $7.27. The firm's fifty day moving average is $6.09 and its 200 day moving average is $6.20.
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 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 is currently 3.85%.
About Itaú Unibanco
(
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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