Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 131.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,077 shares of the bank’s stock after purchasing an additional 19,926 shares during the period. Orion Portfolio Solutions LLC’s holdings in Itaú Unibanco were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew 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 buying an additional 2,469 shares in the last quarter. Daymark Wealth Partners LLC acquired a new stake in Itaú Unibanco in the third quarter valued at approximately $68,000. Quantinno Capital Management LP acquired a new stake in Itaú Unibanco in the third quarter valued at approximately $68,000. MQS Management LLC acquired a new position in shares of Itaú Unibanco during the third quarter worth $70,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Itaú Unibanco during the third quarter worth $81,000.

Itaú Unibanco Stock Up 1.2 %

Shares of NYSE:ITUB opened at $5.02 on Friday. The firm has a market cap of $49.20 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The company has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $6.13. 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 12-month low of $4.90 and a 12-month high of $7.27.

Itaú Unibanco Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be given a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is currently 46.15%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITUB. UBS Group downgraded shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. cut their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.