Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 23.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 34,104 shares of the bank’s stock after selling 10,292 shares during the period. Truist Financial Corp’s holdings in Itaú Unibanco were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Itaú Unibanco by 67.0% in the first quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after buying an additional 1,755 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Itaú Unibanco by 571.3% during 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. acquired a new position in shares of Itaú Unibanco during the first quarter valued at $49,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Itaú Unibanco during the second quarter valued at $65,000. Finally, Wealth Advisory Solutions LLC acquired a new position in shares of Itaú Unibanco during the second quarter valued at $83,000.

Itaú Unibanco Price Performance

Shares of ITUB opened at $6.18 on Friday. The stock’s fifty day moving average is $6.56 and its 200-day moving average is $6.29. The firm has a market capitalization of $60.57 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. Itaú Unibanco Holding S.A. has a one year low of $5.25 and a one year high of $7.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07.

Itaú Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period in the previous year, the company earned $0.18 earnings per share. Equities analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current year.

Itaú Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 2nd will be given a $0.0031 dividend. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is 4.05%.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd.

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.