Calamos Advisors LLC Sells 91,935 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Calamos Advisors LLC lessened its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 26.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,626 shares of the bank’s stock after selling 91,935 shares during the quarter. Calamos Advisors LLC’s holdings in Itaú Unibanco were worth $1,510,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ITUB. GAMMA Investing LLC grew its position in Itaú Unibanco by 67.0% in the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after purchasing an additional 1,755 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Itaú Unibanco by 54.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after purchasing an additional 2,838 shares during the last quarter. Trillium Asset Management LLC grew its position in Itaú Unibanco by 0.5% in the 1st quarter. Trillium Asset Management LLC now owns 873,603 shares of the bank’s stock worth $6,054,000 after purchasing an additional 4,102 shares during the last quarter. Renaissance Group LLC grew its position in Itaú Unibanco by 0.4% in the 1st quarter. Renaissance Group LLC now owns 1,205,760 shares of the bank’s stock worth $8,356,000 after purchasing an additional 4,273 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Itaú Unibanco by 571.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock worth $48,000 after purchasing an additional 5,862 shares during the last quarter.

Itaú Unibanco Price Performance

Shares of Itaú Unibanco stock opened at $6.68 on Monday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.54 and a current ratio of 1.54. The firm’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $6.38. Itaú Unibanco Holding S.A. has a twelve month low of $5.12 and a twelve month high of $7.27. The firm has a market cap of $65.47 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 0.72 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. The business had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same period in the previous year, the business earned $0.18 EPS. As a group, research analysts expect that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.0031 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.55%. Itaú Unibanco’s dividend payout ratio (DPR) is currently 4.05%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ITUB shares. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.05.

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.