NS Partners Ltd Decreases Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

NS Partners Ltd trimmed its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,017,853 shares of the bank’s stock after selling 49,700 shares during the quarter. NS Partners Ltd’s holdings in Itaú Unibanco were worth $26,719,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ITUB. Thornburg Investment Management Inc. increased its stake in Itaú Unibanco by 0.9% during the second quarter. Thornburg Investment Management Inc. now owns 183,245 shares of the bank’s stock worth $1,084,000 after acquiring an additional 1,664 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Itaú Unibanco by 68.5% in the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,469 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Itaú Unibanco by 4.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank’s stock valued at $382,000 after purchasing an additional 2,500 shares during the last quarter. Creative Planning boosted its holdings in Itaú Unibanco by 33.5% in the third quarter. Creative Planning now owns 14,941 shares of the bank’s stock valued at $99,000 after purchasing an additional 3,753 shares during the last quarter. Finally, Baker Avenue Asset Management LP raised its stake in Itaú Unibanco by 1.5% during the third quarter. Baker Avenue Asset Management LP now owns 303,181 shares of the bank’s stock valued at $2,016,000 after buying an additional 4,485 shares in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Stock Performance

Shares of Itaú Unibanco stock opened at $5.96 on Wednesday. The stock has a market cap of $58.41 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $6.26. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 12 month low of $5.62 and a 12 month high of $7.27.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is 3.85%.

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.