Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 758,677 shares of the bank’s stock after selling 5,088 shares during the quarter. Moran Wealth Management LLC’s holdings in Itaú Unibanco were worth $5,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thornburg Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 1,664 shares in the last quarter. Van ECK Associates Corp lifted 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of 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 worth $382,000 after acquiring an additional 2,500 shares in the last quarter. Creative Planning lifted its stake in shares of Itaú Unibanco by 33.5% in the third quarter. Creative Planning now owns 14,941 shares of the bank’s stock worth $99,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its stake in shares of Itaú Unibanco by 1.5% in the third quarter. Baker Avenue Asset Management LP now owns 303,181 shares of the bank’s stock worth $2,016,000 after acquiring an additional 4,485 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on ITUB. JPMorgan Chase & Co. cut their price target 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 report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Itaú Unibanco currently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Itaú Unibanco Stock Down 0.3 %

Shares of Itaú Unibanco stock opened at $5.96 on Thursday. 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 market cap of $58.41 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.77 and a beta of 0.98. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.62 and a fifty-two week high of $7.27. The business has a 50-day moving average price of $6.31 and a 200 day moving average price of $6.26.

Itaú Unibanco Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.85%.

Itaú Unibanco 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.