Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC grew its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 23.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,959 shares of the bank’s stock after acquiring an additional 4,720 shares during the period. MML Investors Services LLC’s holdings in Itaú Unibanco were worth $166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after acquiring an additional 2,469 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Itaú Unibanco in the third quarter worth about $68,000. Daymark Wealth Partners LLC purchased a new position in Itaú Unibanco during the third quarter worth approximately $68,000. MQS Management LLC purchased a new stake in Itaú Unibanco in the 3rd quarter worth $70,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Itaú Unibanco during the 3rd quarter worth about $81,000.

Itaú Unibanco Trading Down 0.4 %

ITUB opened at $4.98 on Friday. Itaú Unibanco Holding S.A. has a 1-year low of $4.90 and a 1-year high of $7.27. 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 firm has a market capitalization of $48.81 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The company’s 50 day simple moving average is $5.71 and its two-hundred day simple moving average is $6.09.

Itaú Unibanco Cuts Dividend

The business also recently announced 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 of this dividend is Monday, December 2nd. Itaú Unibanco’s payout ratio is currently 3.85%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.50.

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.