Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Westwood Global Investments LLC

Westwood Global Investments LLC lessened its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,439,217 shares of the bank’s stock after selling 436,230 shares during the quarter. Itaú Unibanco accounts for about 17.3% of Westwood Global Investments LLC’s holdings, making the stock its biggest position. Westwood Global Investments LLC owned approximately 0.61% of Itaú Unibanco worth $347,125,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quattro Financial Advisors LLC grew its stake in shares of Itaú Unibanco by 4,285,614.3% in the 1st quarter. Quattro Financial Advisors LLC now owns 300,000 shares of the bank’s stock valued at $2,079,000 after buying an additional 299,993 shares in the last quarter. Capital World Investors grew its position in Itaú Unibanco by 64.4% in the first quarter. Capital World Investors now owns 8,654,237 shares of the bank’s stock worth $59,974,000 after acquiring an additional 3,390,463 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Itaú Unibanco by 8.5% during the 1st quarter. First Eagle Investment Management LLC now owns 1,398,982 shares of the bank’s stock worth $9,695,000 after purchasing an additional 109,259 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Itaú Unibanco by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock valued at $20,220,000 after purchasing an additional 504,500 shares in the last quarter. Finally, Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in shares of Itaú Unibanco in the 4th quarter valued at $22,802,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Itaú Unibanco has a consensus rating of “Hold” and an average price target of $7.05.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $6.67 on Monday. The firm has a market capitalization of $65.37 billion, a PE ratio of 9.01, a PEG ratio of 0.85 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 1 year low of $5.12 and a 1 year high of $7.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The firm’s fifty day simple moving average is $6.36 and its 200 day simple moving average is $6.35.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. During the same period in the prior year, the company earned $0.18 earnings per share. On average, sell-side analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current year.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be given a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is currently 48.65%.

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.