Itaú Unibanco Holding S.A. (NYSE:ITUB) Stake Lowered by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUBGet Rating) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,441 shares of the bank’s stock after selling 4,799 shares during the period. Advisors Asset Management Inc.’s holdings in Itaú Unibanco were worth $169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ITUB. TownSquare Capital LLC bought a new stake in Itaú Unibanco in the second quarter worth $331,000. Bank of Nova Scotia boosted its holdings in Itaú Unibanco by 13.9% in the second quarter. Bank of Nova Scotia now owns 660,505 shares of the bank’s stock worth $2,831,000 after purchasing an additional 80,855 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Itaú Unibanco in the second quarter worth $431,000. Baillie Gifford & Co. boosted its holdings in Itaú Unibanco by 0.4% in the second quarter. Baillie Gifford & Co. now owns 18,689,711 shares of the bank’s stock worth $79,992,000 after purchasing an additional 77,807 shares in the last quarter. Finally, Wrapmanager Inc. bought a new stake in Itaú Unibanco in the second quarter worth $188,000. 3.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ITUB shares. Barclays upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $5.50 to $7.00 in a report on Tuesday, November 15th. Scotiabank raised shares of Itaú Unibanco from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 5th. Finally, The Goldman Sachs Group raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.40 to $7.00 in a research report on Thursday, September 29th.

Itaú Unibanco Stock Up 1.0 %

Itaú Unibanco stock opened at $4.99 on Tuesday. The firm has a fifty day moving average price of $5.40 and a two-hundred day moving average price of $5.00. The firm has a market cap of $48.90 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.54 and a beta of 0.76. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.69 and a quick ratio of 1.69. Itaú Unibanco Holding S.A. has a fifty-two week low of $3.60 and a fifty-two week high of $6.07.

Itaú Unibanco Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 12th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.003 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, December 1st. Itaú Unibanco’s dividend payout ratio is currently 5.36%.

About Itaú Unibanco

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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 and Corporation. It offers various deposit products, as well as loans and credit cards; investment and commercial banking services; real estate lending services; financing and investment services; and leasing and foreign exchange services.

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Institutional Ownership by Quarter for Itaú Unibanco (NYSE:ITUB)

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