Renaissance Technologies LLC Cuts Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Renaissance Technologies LLC trimmed its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 55.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,423,474 shares of the bank’s stock after selling 3,077,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Itaú Unibanco were worth $14,153,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in shares of Itaú Unibanco during the 4th quarter worth $85,000. Vanguard Personalized Indexing Management LLC increased its stake in Itaú Unibanco by 22.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 44,845 shares of the bank’s stock worth $312,000 after acquiring an additional 8,200 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Itaú Unibanco by 19.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 129,211 shares of the bank’s stock worth $898,000 after purchasing an additional 21,067 shares during the period. US Bancorp DE lifted its stake in shares of Itaú Unibanco by 106.7% in the 4th quarter. US Bancorp DE now owns 214,070 shares of the bank’s stock valued at $1,488,000 after purchasing an additional 110,493 shares in the last quarter. Finally, Congress Wealth Management LLC DE acquired a new position in shares of Itaú Unibanco in the 4th quarter valued at about $507,000.

Itaú Unibanco Stock Down 3.1 %

NYSE ITUB opened at $6.51 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.12 and a fifty-two week 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 $6.34. The stock has a market cap of $63.80 billion, a PE ratio of 8.80, a P/E/G ratio of 0.85 and a beta of 0.97.

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

Itaú Unibanco Cuts Dividend

The firm also recently announced 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 payout ratio is 48.65%.

Analysts Set New Price Targets

Several research analysts recently commented on ITUB shares. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Itaú Unibanco has a consensus rating of “Hold” and an average target price of $7.05.

Itaú Unibanco Company 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.