UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires New Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 182,640 shares of the bank’s stock, valued at approximately $1,215,000.

A number of other hedge funds have also added to or reduced their stakes in ITUB. Fisher Asset Management LLC grew its stake in Itaú Unibanco by 6.1% during the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock valued at $336,408,000 after acquiring an additional 2,886,508 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Itaú Unibanco by 14.8% during the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock valued at $221,505,000 after purchasing an additional 4,888,099 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of 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 worth $134,606,000 after purchasing an additional 529,600 shares during the period. FMR LLC raised its position in shares of Itaú Unibanco by 12,592.2% in the third quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock worth $156,171,000 after buying an additional 23,299,313 shares in the last quarter. Finally, Perpetual Ltd boosted its stake in Itaú Unibanco by 9.0% during the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock valued at $90,638,000 after buying an additional 1,126,695 shares during the period.

Itaú Unibanco Price Performance

ITUB opened at $5.23 on Wednesday. The stock has a 50-day moving average price of $5.90 and a 200-day moving average price of $6.15. The stock has a market capitalization of $51.26 billion, a P/E ratio of 6.71, a PEG ratio of 0.68 and a beta of 0.95. Itaú Unibanco Holding S.A. has a 12-month low of $5.13 and a 12-month high of $7.27. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Shareholders 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 dividend payout ratio is presently 46.15%.

Analyst Upgrades and Downgrades

ITUB has been the topic of a number of research analyst reports. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lowered their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.