Cerity Partners LLC Increases Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Cerity Partners LLC raised its position in Itaú Unibanco Holding S.A. (NYSE:ITUBGet Rating) by 73.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,876 shares of the bank’s stock after purchasing an additional 18,170 shares during the quarter. Cerity Partners LLC’s holdings in Itaú Unibanco were worth $184,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Calamos Wealth Management LLC raised its position in Itaú Unibanco by 14.6% in the second quarter. Calamos Wealth Management LLC now owns 18,404 shares of the bank’s stock valued at $79,000 after purchasing an additional 2,340 shares during the period. Platinum Investment Management Ltd. raised its position in Itaú Unibanco by 37.3% in the first quarter. Platinum Investment Management Ltd. now owns 9,491 shares of the bank’s stock valued at $54,000 after purchasing an additional 2,579 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Itaú Unibanco by 17.1% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 20,185 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,941 shares during the period. Eaton Vance Management raised its position in Itaú Unibanco by 35.9% in the first quarter. Eaton Vance Management now owns 11,245 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,971 shares during the period. Finally, Comerica Bank raised its position in Itaú Unibanco by 2.1% in the first quarter. Comerica Bank now owns 151,841 shares of the bank’s stock valued at $850,000 after purchasing an additional 3,125 shares during the period. Hedge funds and other institutional investors own 3.28% of the company’s stock.

Itaú Unibanco Stock Performance

Shares of ITUB stock opened at $4.86 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.40. The firm has a fifty day moving average price of $5.40 and a 200 day moving average price of $5.00. The company has a market cap of $47.63 billion, a P/E ratio of 8.68, a PEG ratio of 0.54 and a beta of 0.76. Itaú Unibanco Holding S.A. has a 12 month low of $3.60 and a 12 month high of $6.07.

Itaú Unibanco Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 12th. Investors of record on Friday, December 2nd will be paid a dividend of $0.003 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.74%. Itaú Unibanco’s payout ratio is currently 5.36%.

Analyst Ratings Changes

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

Itaú Unibanco Profile

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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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