Itaú Unibanco Holding S.A. (NYSE:ITUB) Stake Reduced by HTLF Bank

HTLF Bank cut its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 15.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,237 shares of the bank’s stock after selling 1,915 shares during the period. HTLF Bank’s holdings in Itaú Unibanco were worth $68,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ITUB. GAMMA Investing LLC lifted its position in Itaú Unibanco by 67.0% in the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,755 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised 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 buying an additional 5,862 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Itaú Unibanco during the first quarter worth approximately $49,000. Daymark Wealth Partners LLC bought a new position in Itaú Unibanco in the 3rd quarter worth approximately $68,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in Itaú Unibanco during the 2nd quarter valued at $65,000.

Itaú Unibanco Price Performance

NYSE ITUB opened at $6.22 on Wednesday. The firm has a market capitalization of $60.96 billion, a PE ratio of 8.41, a P/E/G ratio of 0.80 and a beta of 0.97. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. Itaú Unibanco Holding S.A. has a 12 month low of $5.25 and a 12 month high of $7.27. The company’s 50 day simple moving average is $6.56 and its 200 day simple moving average is $6.29.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The company had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, equities research analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.05.

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.