HBK Sorce Advisory LLC Decreases Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

HBK Sorce Advisory LLC decreased its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,540 shares of the bank’s stock after selling 3,808 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Itaú Unibanco were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ITUB. William Blair Investment Management LLC grew its stake in shares of Itaú Unibanco by 191.9% during the 1st quarter. William Blair Investment Management LLC now owns 33,040,433 shares of the bank’s stock worth $228,968,000 after acquiring an additional 21,720,091 shares during the period. Fisher Asset Management LLC grew its stake in shares of Itaú Unibanco by 43.7% during the 4th quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after acquiring an additional 15,908,536 shares during the period. Carmignac Gestion bought a new position in shares of Itaú Unibanco during the 4th quarter worth $92,644,000. Capital Research Global Investors lifted its position in shares of Itaú Unibanco by 460.6% during the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock worth $105,766,000 after acquiring an additional 12,539,737 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Itaú Unibanco in the fourth quarter worth $23,769,000.

Itaú Unibanco Trading Up 0.8 %

Itaú Unibanco stock opened at $6.67 on Monday. The stock has a market cap of $65.37 billion, a P/E ratio of 9.01, a PEG ratio of 0.85 and a beta of 0.97. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.12 and a fifty-two week high of $7.27. The firm’s fifty day moving average price is $6.36 and its 200-day moving average price is $6.35. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $16.54 billion during the quarter, compared to analyst estimates of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be paid a $0.0031 dividend. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is presently 48.65%.

Analysts Set New Price Targets

ITUB has been the topic 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. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Itaú Unibanco currently has an average rating of “Hold” and a consensus target price of $7.05.

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.