Cerity Partners LLC Buys 6,927 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Cerity Partners LLC boosted its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,501 shares of the bank’s stock after acquiring an additional 6,927 shares during the period. Cerity Partners LLC’s holdings in Itaú Unibanco were worth $407,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in Itaú Unibanco by 227.8% in the third quarter. Lindbrook Capital LLC now owns 5,133 shares of the bank’s stock worth $28,000 after acquiring an additional 3,567 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of Itaú Unibanco in the fourth quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $28,000. TIAA Trust National Association bought a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $62,000. Finally, PDS Planning Inc raised its position in shares of Itaú Unibanco by 18.6% in the third quarter. PDS Planning Inc now owns 12,652 shares of the bank’s stock valued at $68,000 after purchasing an additional 1,984 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, January 16th. HSBC lowered shares of Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Itaú Unibanco Stock Performance

Shares of NYSE:ITUB opened at $6.11 on Friday. The company has a 50 day moving average of $6.70 and a 200 day moving average of $6.45. Itaú Unibanco Holding S.A. has a 12 month low of $4.85 and a 12 month high of $7.27. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Monday, February 5th. The bank reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Itaú Unibanco had a net margin of 10.48% and a return on equity of 17.76%. On average, sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.82 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be paid a dividend of $0.003 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.04 annualized dividend and a yield of 0.59%. Itaú Unibanco’s dividend payout ratio is currently 5.88%.

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.