UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $1.22 Million Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 182,640 shares of the bank’s stock, valued at approximately $1,215,000.

Several other hedge funds have also recently added to or reduced their stakes in ITUB. Van ECK Associates Corp raised its stake in shares of Itaú Unibanco by 68.5% in 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 last quarter. Daymark Wealth Partners LLC acquired a new position in shares of Itaú Unibanco in the 3rd quarter valued at approximately $68,000. MQS Management LLC acquired a new stake in Itaú Unibanco during the 3rd quarter worth approximately $70,000. Raymond James Trust N.A. acquired a new stake in shares of Itaú Unibanco in the 3rd quarter valued at about $81,000. Finally, Freedom Investment Management Inc. bought a new position in shares of Itaú Unibanco during the third quarter worth about $90,000.

Analysts Set New Price Targets

A number of equities analysts have commented on ITUB shares. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. decreased their target price on shares of 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 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.50.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $5.23 on Wednesday. The company has a market capitalization of $51.26 billion, a PE ratio of 6.71, a P/E/G ratio of 0.68 and a beta of 0.95. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $6.15. Itaú Unibanco Holding S.A. has a twelve month low of $5.13 and a twelve month high of $7.27.

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is presently 46.15%.

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.