Itaú Unibanco Holding S.A. (NYSE:ITUB) Holdings Decreased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 66.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,233 shares of the bank's stock after selling 154,499 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Itaú Unibanco were worth $514,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ITUB. Van ECK Associates Corp raised its position in shares of Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after buying an additional 2,469 shares in the last quarter. Daymark Wealth Partners LLC bought a new stake in Itaú Unibanco during the third quarter worth approximately $68,000. MQS Management LLC acquired a new stake in Itaú Unibanco in the third quarter worth approximately $70,000. Dynamic Advisor Solutions LLC bought a new position in Itaú Unibanco during the 2nd quarter valued at $65,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Itaú Unibanco during the 3rd quarter valued at $81,000.

Analyst Upgrades and Downgrades

ITUB has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a report 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $7.50.

Itaú Unibanco Price Performance

Shares of NYSE:ITUB traded down $0.16 on Friday, reaching $5.37. 28,927,381 shares of the company traded hands, compared to its average volume of 21,288,618. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $52.63 billion, a PE ratio of 6.88, a P/E/G ratio of 0.70 and a beta of 0.95. The company's 50 day moving average is $6.06 and its 200-day moving average is $6.19. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.25 and a fifty-two week high of $7.27.

Itaú Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's dividend payout ratio is currently 3.85%.

Itaú Unibanco Company 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.