Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Purchased by State Street Corp

State Street Corp lifted its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,522,486 shares of the bank’s stock after purchasing an additional 861,500 shares during the quarter. State Street Corp owned about 0.13% of Itaú Unibanco worth $83,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings 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 purchasing an additional 2,469 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $68,000. Daymark Wealth Partners LLC acquired a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $68,000. MQS Management LLC acquired a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $70,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $81,000.

Itaú Unibanco Price Performance

ITUB stock opened at $5.20 on Tuesday. The business has a fifty day moving average of $5.93 and a two-hundred day moving average of $6.16. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The stock has a market cap of $50.92 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Itaú Unibanco Holding S.A. has a 52-week low of $5.17 and a 52-week high of $7.27.

Itaú Unibanco Cuts Dividend

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

Analyst Ratings Changes

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

Itaú Unibanco 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.