Healthcare of Ontario Pension Plan Trust Fund Invests $5.32 Million in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) during the third quarter, according to its most recent filing with the SEC. The firm purchased 800,000 shares of the bank’s stock, valued at approximately $5,320,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ITUB. Thornburg Investment Management Inc. raised its holdings in Itaú Unibanco by 0.9% in the second quarter. Thornburg Investment Management Inc. now owns 183,245 shares of the bank’s stock worth $1,084,000 after purchasing an additional 1,664 shares during the period. Van ECK Associates Corp increased its position in shares of Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after buying an additional 2,469 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Itaú Unibanco by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank’s stock worth $382,000 after buying an additional 2,500 shares during the period. Creative Planning raised its stake in Itaú Unibanco by 33.5% during the 3rd quarter. Creative Planning now owns 14,941 shares of the bank’s stock worth $99,000 after buying an additional 3,753 shares during the period. Finally, Blueshift Asset Management LLC lifted its holdings in Itaú Unibanco by 11.6% during the third quarter. Blueshift Asset Management LLC now owns 41,990 shares of the bank’s stock worth $279,000 after acquiring an additional 4,379 shares in the last quarter.

Itaú Unibanco Stock Down 6.5 %

ITUB stock opened at $5.37 on Friday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $52.58 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.75 and a beta of 0.98. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.28 and a fifty-two week high of $7.27. The business has a 50-day moving average of $6.19 and a 200-day moving average of $6.23.

Itaú Unibanco Cuts Dividend

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

Wall Street Analysts Forecast Growth

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