Thrivent Financial for Lutherans Sells 2,812 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Thrivent Financial for Lutherans lowered its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 836,936 shares of the bank’s stock after selling 2,812 shares during the period. Thrivent Financial for Lutherans’ holdings in Itaú Unibanco were worth $4,888,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in shares of Itaú Unibanco during the 4th quarter valued at about $85,000. PNC Financial Services Group Inc. grew its holdings in shares of Itaú Unibanco by 19.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 129,211 shares of the bank’s stock worth $898,000 after acquiring an additional 21,067 shares during the period. US Bancorp DE raised its position in shares of Itaú Unibanco by 106.7% in the 4th quarter. US Bancorp DE now owns 214,070 shares of the bank’s stock worth $1,488,000 after acquiring an additional 110,493 shares in the last quarter. Madison Asset Management LLC lifted its stake in shares of Itaú Unibanco by 12.3% in the 4th quarter. Madison Asset Management LLC now owns 499,419 shares of the bank’s stock valued at $3,471,000 after purchasing an additional 54,760 shares during the period. Finally, Carmignac Gestion bought a new stake in shares of Itaú Unibanco during the fourth quarter valued at approximately $92,644,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.05.

Itaú Unibanco Price Performance

NYSE ITUB opened at $6.78 on Friday. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27. The stock has a 50-day moving average of $6.46 and a 200 day moving average of $6.34. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.84 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings data 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 11.39% and a return on equity of 19.14%. The firm had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. During the same period in the previous year, the company earned $0.18 earnings per share. On average, sell-side analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current year.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is currently 48.65%.

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.