SPX Gestao de Recursos Ltda Cuts Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

SPX Gestao de Recursos Ltda lowered its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 45.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 945,695 shares of the bank’s stock after selling 776,137 shares during the period. Itaú Unibanco makes up approximately 0.8% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 25th largest holding. SPX Gestao de Recursos Ltda’s holdings in Itaú Unibanco were worth $5,523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITUB. William Blair Investment Management LLC grew its holdings in Itaú Unibanco by 191.9% in 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 last quarter. Fisher Asset Management LLC boosted its holdings in shares of Itaú Unibanco by 43.7% during the fourth quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after purchasing an additional 15,908,536 shares during the period. Carmignac Gestion bought a new stake in shares of Itaú Unibanco in the fourth quarter worth about $92,644,000. Capital Research Global Investors increased its holdings in Itaú Unibanco by 460.6% during the 1st quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock valued at $105,766,000 after purchasing an additional 12,539,737 shares during the period. Finally, Marshall Wace LLP raised its position in Itaú Unibanco by 200.4% during the 2nd quarter. Marshall Wace LLP now owns 7,679,311 shares of the bank’s stock valued at $44,847,000 after purchasing an additional 5,122,752 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Itaú Unibanco Stock Down 1.9 %

Shares of NYSE:ITUB opened at $6.65 on Tuesday. Itaú Unibanco Holding S.A. has a 12-month low of $5.12 and a 12-month high of $7.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The stock has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.33. The stock has a market capitalization of $65.18 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.84 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The company had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, research analysts anticipate 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 disclosed 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 is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is 4.05%.

About Itaú Unibanco

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.