12,211 Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB) Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. purchased a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,211 shares of the bank’s stock, valued at approximately $81,000.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of Itaú Unibanco by 68.5% in the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,469 shares in the last quarter. Daymark Wealth Partners LLC acquired a new stake in shares of Itaú Unibanco during the 3rd quarter valued at about $68,000. MQS Management LLC bought a new stake in Itaú Unibanco in the third quarter valued at about $70,000. Dynamic Advisor Solutions LLC acquired a new position in Itaú Unibanco in the second quarter worth about $65,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Itaú Unibanco by 105.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 14,172 shares of the bank’s stock worth $83,000 after purchasing an additional 7,284 shares during the period.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $5.74 on Friday. The stock has a market capitalization of $56.26 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 1 year low of $5.62 and a 1 year high of $7.27. The firm has a 50 day moving average of $6.21 and a 200-day moving average of $6.24.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be given a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s payout ratio is 3.85%.

Analyst Upgrades and Downgrades

ITUB has been the subject of a number of recent research reports. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. lowered their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

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.