Sumitomo Mitsui DS Asset Management Company Ltd Trims Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 28.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,000 shares of the bank’s stock after selling 22,000 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Itaú Unibanco were worth $321,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Itaú Unibanco by 67.0% in the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock valued at $30,000 after buying an additional 1,755 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Itaú Unibanco by 571.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after purchasing an additional 5,862 shares during the period. Bessemer Group Inc. purchased a new stake in Itaú Unibanco in the first quarter valued at approximately $49,000. National Bank of Canada FI increased its position in Itaú Unibanco by 20,555.6% during the fourth quarter. National Bank of Canada FI now owns 7,436 shares of the bank’s stock worth $51,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Itaú Unibanco by 54.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock valued at $56,000 after purchasing an additional 2,838 shares during the last quarter.

Itaú Unibanco Trading Down 1.1 %

Shares of ITUB opened at $6.52 on Monday. Itaú Unibanco Holding S.A. has a 12 month low of $5.12 and a 12 month high of $7.27. The stock’s 50-day moving average is $6.22 and its two-hundred day moving average is $6.38. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $63.90 billion, a PE ratio of 8.81, a P/E/G ratio of 0.84 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The firm 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 company posted $0.18 EPS. Equities 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 company also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Itaú Unibanco’s payout ratio is 4.05%.

Analyst Ratings Changes

A number of analysts have recently commented on ITUB shares. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley upgraded 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 assigned a buy rating to the company. Based on data from MarketBeat, Itaú Unibanco currently 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.