Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 65.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,150 shares of the bank’s stock after buying an additional 17,400 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Itaú Unibanco were worth $294,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. lifted its stake in Itaú Unibanco by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 9,556,375 shares of the bank’s stock worth $63,550,000 after purchasing an additional 430,582 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Itaú Unibanco in the 3rd quarter worth $373,000. Crossmark Global Holdings Inc. lifted its stake in Itaú Unibanco by 3.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 483,231 shares of the bank’s stock worth $3,214,000 after purchasing an additional 15,790 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Itaú Unibanco by 1.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 303,181 shares of the bank’s stock worth $2,016,000 after purchasing an additional 4,485 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Itaú Unibanco by 7.3% in the 3rd quarter. QRG Capital Management Inc. now owns 104,566 shares of the bank’s stock worth $695,000 after purchasing an additional 7,071 shares in the last quarter.

Wall Street Analyst Weigh In

ITUB has been the topic of several research analyst reports. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. reduced their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Itaú Unibanco presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Itaú Unibanco Stock Performance

Itaú Unibanco stock opened at $5.96 on Thursday. The company has a market cap of $58.41 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. Itaú Unibanco Holding S.A. has a twelve month low of $5.62 and a twelve month high of $7.27. The company’s 50-day moving average price is $6.31 and its 200-day moving average price is $6.26. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is 3.85%.

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.