Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 12.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 29,162 shares of the bank’s stock after selling 4,096 shares during the period. Truist Financial Corp’s holdings in Itaú Unibanco were worth $145,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes 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 worth $38,000 after acquiring an additional 2,469 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in Itaú Unibanco during the fourth quarter worth $57,000. Quantinno Capital Management LP acquired a new position in Itaú Unibanco during the third quarter worth $68,000. MQS Management LLC acquired a new position in Itaú Unibanco during the third quarter worth $70,000. Finally, Raymond James Trust N.A. acquired a new position in Itaú Unibanco during the third quarter worth $81,000.

Itaú Unibanco Trading Up 0.4 %

Shares of ITUB opened at $5.67 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.75 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a 12-month low of $4.86 and a 12-month high of $7.04. The firm has a 50-day moving average price of $5.52 and a 200 day moving average price of $5.91. The firm has a market capitalization of $55.52 billion, a P/E ratio of 7.26, a P/E/G ratio of 0.89 and a beta of 0.95.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Thursday, February 6th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. Sell-side analysts forecast that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itaú Unibanco Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, February 19th. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s dividend payout ratio is currently 2.56%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ITUB shares. UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. HSBC raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 target price for the company in a report on Monday, January 13th. Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. dropped their target price 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. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.90.

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.