Itaú Unibanco Holding S.A. (NYSE:ITUB) Stake Lowered by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. cut its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,430 shares of the bank’s stock after selling 2,590 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Itaú Unibanco were worth $195,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ITUB. William Blair Investment Management LLC grew its holdings in shares of Itaú Unibanco by 191.9% during the first quarter. William Blair Investment Management LLC now owns 33,040,433 shares of the bank’s stock valued at $228,968,000 after purchasing an additional 21,720,091 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Itaú Unibanco by 43.7% in the 4th quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after buying an additional 15,908,536 shares in the last quarter. Carmignac Gestion bought a new position in Itaú Unibanco in the 4th quarter worth approximately $92,644,000. Capital Research Global Investors grew its holdings in Itaú Unibanco by 460.6% in the 1st quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock worth $105,766,000 after buying an additional 12,539,737 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Itaú Unibanco in the 4th quarter worth approximately $23,769,000.

Itaú Unibanco Stock Performance

ITUB opened at $6.51 on Friday. The company has a market capitalization of $63.80 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 0.85 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 1-year low of $5.12 and a 1-year high of $7.27. The business has a 50 day moving average price of $6.42 and a two-hundred day moving average price of $6.35.

Itaú Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period in the prior year, the firm posted $0.18 earnings per share. Research analysts predict that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business 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 presently 48.65%.

Analysts Set New Price Targets

ITUB has been the subject of a number of recent analyst reports. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Itaú Unibanco currently has an average rating of “Hold” and a consensus target price of $7.05.

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.