Itaú Unibanco Holding S.A. (NYSE:ITUB) Stock Holdings Lessened by Wealth Alliance

Wealth Alliance cut its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,572 shares of the bank’s stock after selling 2,997 shares during the period. Wealth Alliance’s holdings in Itaú Unibanco were worth $365,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in shares of Itaú Unibanco by 43.7% during the 4th quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock valued at $363,641,000 after buying an additional 15,908,536 shares during the period. William Blair Investment Management LLC boosted its position in Itaú Unibanco by 14.8% during the second quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock valued at $221,505,000 after purchasing an additional 4,888,099 shares during the last quarter. Capital Research Global Investors grew its stake in Itaú Unibanco by 460.6% in the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock valued at $105,766,000 after purchasing an additional 12,539,737 shares in the last quarter. Carmignac Gestion acquired a new position in Itaú Unibanco in the 4th quarter worth about $92,644,000. Finally, Northcape Capital Pty Ltd raised its stake in shares of Itaú Unibanco by 5.7% during the 2nd quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock worth $55,856,000 after purchasing an additional 519,529 shares in the last quarter.

Itaú Unibanco Stock Performance

Shares of NYSE ITUB opened at $6.71 on Friday. The business’s 50-day simple moving average is $6.41 and its 200-day simple moving average is $6.35. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. Itaú Unibanco Holding S.A. has a 52 week low of $5.12 and a 52 week high of $7.27. The firm has a market cap of $65.76 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.85 and a beta of 0.97.

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

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 2nd will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 48.65%.

Wall Street Analysts Forecast Growth

ITUB has been the subject of several recent research reports. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.05.

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.