HighTower Advisors LLC Acquires 4,823 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

HighTower Advisors LLC lifted its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 23.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,586 shares of the bank’s stock after acquiring an additional 4,823 shares during the quarter. HighTower Advisors LLC’s holdings in Itaú Unibanco were worth $169,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ITUB. Fisher Asset Management LLC boosted its position in Itaú Unibanco by 6.1% during the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after purchasing an additional 2,886,508 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Itaú Unibanco by 14.8% during the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock worth $221,505,000 after buying an additional 4,888,099 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Itaú Unibanco by 2.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock worth $134,606,000 after buying an additional 529,600 shares during the period. FMR LLC grew its stake in Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after buying an additional 23,299,313 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in Itaú Unibanco by 9.0% in the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock valued at $90,638,000 after acquiring an additional 1,126,695 shares during the period.

Itaú Unibanco Trading Up 0.4 %

Shares of Itaú Unibanco stock opened at $4.99 on Thursday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50-day moving average of $5.78 and a 200-day moving average of $6.11. Itaú Unibanco Holding S.A. has a 52-week low of $4.90 and a 52-week high of $7.27. The stock has a market cap of $48.91 billion, a PE ratio of 6.40, a PEG ratio of 0.68 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be issued a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is currently 3.85%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.