Creative Planning Buys 3,753 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Creative Planning lifted its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 33.5% in the third quarter, Holdings Channel.com reports. The fund owned 14,941 shares of the bank’s stock after acquiring an additional 3,753 shares during the quarter. Creative Planning’s holdings in Itaú Unibanco were worth $99,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITUB. William Blair Investment Management LLC lifted its position in shares of Itaú Unibanco by 14.8% in the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock worth $221,505,000 after purchasing an additional 4,888,099 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in Itaú Unibanco by 2.3% in the second quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock valued at $134,606,000 after buying an additional 529,600 shares during the period. Capital Research Global Investors boosted its position in Itaú Unibanco by 460.6% during the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock valued at $105,766,000 after acquiring an additional 12,539,737 shares during the last quarter. Perpetual Ltd grew its holdings in Itaú Unibanco by 9.0% during the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after acquiring an additional 1,126,695 shares during the period. Finally, Northcape Capital Pty Ltd grew its holdings in Itaú Unibanco by 5.7% during the 2nd quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock worth $55,856,000 after acquiring an additional 519,529 shares during the period.

Itaú Unibanco Trading Down 0.8 %

Shares of ITUB stock opened at $6.03 on Wednesday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.07 and a current ratio of 1.75. The company has a market capitalization of $59.10 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.79 and a beta of 0.98. Itaú Unibanco Holding S.A. has a 52-week low of $5.62 and a 52-week high of $7.27. The company has a 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $6.27.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be given a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is currently 3.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ITUB shares. JPMorgan Chase & Co. cut their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. UBS Group downgraded shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

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.