GRATRY & Co LLC decreased its position in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,832 shares of the bank’s stock after selling 3,520 shares during the quarter. GRATRY & Co LLC’s holdings in Itau Unibanco were worth $362,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Harding Loevner LP lifted its holdings in Itau Unibanco by 225.1% in the third quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock worth $774,895,000 after purchasing an additional 133,670,409 shares during the period. JPMorgan Chase & Co. lifted its holdings in Itau Unibanco by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,923,292 shares of the bank’s stock worth $444,464,000 after purchasing an additional 627,005 shares during the period. Baillie Gifford & Co. lifted its holdings in Itau Unibanco by 21.3% in the third quarter. Baillie Gifford & Co. now owns 28,091,190 shares of the bank’s stock worth $384,849,000 after purchasing an additional 4,924,628 shares during the period. Fisher Asset Management LLC lifted its holdings in Itau Unibanco by 33.8% in the fourth quarter. Fisher Asset Management LLC now owns 25,914,919 shares of the bank’s stock worth $336,894,000 after purchasing an additional 6,553,611 shares during the period. Finally, Mondrian Investment Partners LTD lifted its holdings in Itau Unibanco by 30.1% in the fourth quarter. Mondrian Investment Partners LTD now owns 22,372,140 shares of the bank’s stock worth $290,838,000 after purchasing an additional 5,177,751 shares during the period. 4.85% of the stock is owned by institutional investors.
Shares of Itau Unibanco Holding SA (ITUB) traded down $0.10 during midday trading on Monday, reaching $15.91. 3,596,299 shares of the company’s stock were exchanged, compared to its average volume of 11,953,292. Itau Unibanco Holding SA has a 52 week low of $10.02 and a 52 week high of $16.98. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.57. The firm has a market cap of $104,268.33, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.79.
Itau Unibanco announced that its Board of Directors has authorized a share buyback plan on Monday, December 18th that allows the company to repurchase 28,620,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a monthly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 2nd will be issued a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.38%. This is an increase from Itau Unibanco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Thursday, February 1st. Itau Unibanco’s dividend payout ratio is presently 5.22%.
Several equities research analysts recently weighed in on ITUB shares. Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, December 11th. Zacks Investment Research downgraded shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine downgraded shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Finally, BidaskClub downgraded shares of Itau Unibanco from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.25.
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Itau Unibanco Profile
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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