State of New Jersey Common Pension Fund D Sells 207,261 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

State of New Jersey Common Pension Fund D decreased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,840,572 shares of the bank’s stock after selling 207,261 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Itaú Unibanco were worth $14,089,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. lifted its position in shares of Itaú Unibanco by 16.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock valued at $103,000 after buying an additional 2,250 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Itaú Unibanco by 68.5% during 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. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Itaú Unibanco by 4.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank’s stock worth $382,000 after purchasing an additional 2,500 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Itaú Unibanco by 18.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank’s stock worth $98,000 after purchasing an additional 3,089 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of Itaú Unibanco by 8.2% in the fourth quarter. Spire Wealth Management now owns 44,738 shares of the bank’s stock valued at $222,000 after purchasing an additional 3,405 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. HSBC raised Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target for the company in a report on Monday, January 13th. UBS Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Itaú Unibanco currently has an average rating of “Buy” and a consensus price target of $6.90.

Itaú Unibanco Stock Up 3.7 %

Shares of NYSE:ITUB opened at $6.10 on Tuesday. The company has a market cap of $59.74 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 0.67 and a beta of 0.95. Itaú Unibanco Holding S.A. has a one year low of $4.86 and a one year high of $7.27. The firm has a fifty day moving average price of $5.37 and a two-hundred day moving average price of $5.96. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Thursday, February 6th. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). Itaú Unibanco had a return on equity of 19.76% and a net margin of 12.25%. Analysts anticipate that Itaú Unibanco Holding S.A. will post 0.82 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.058 dividend. This is an increase from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is currently 71.79%.

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.