Zacks Investment Research cut shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Itau Unibanco shares have outperformed significantly the Zacks categorized Foreign Banks industry, over the past one year. The company’s growth prospects look encouraging as it remains focused on building strategies to expand inorganically. Recently, Itau Unibanco completed the acquisition of 40% equity stake in Itau BMG Consignado. Further, it has been diversifying its loan composition with focus on origination of products with lower risks and more guarantees. However, rising operational risk with management's expectation of non-interest expenses to increase in the range of 2%–5% in 2016 and strict regulations remain concerns.”

Analyst Recommendations for Itau Unibanco Banco Holding SA (NYSE:ITUB)

Shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) traded down 3.345% on Tuesday, reaching $11.125. The company had a trading volume of 6,324,946 shares. Itau Unibanco Banco Holding SA has a one year low of $4.98 and a one year high of $12.19. The company has a 50-day moving average price of $10.19 and a 200-day moving average price of $10.15. The firm has a market cap of $72.65 billion, a P/E ratio of 10.565 and a beta of 1.48.

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The business also recently declared a monthly dividend, which will be paid on Monday, March 13th. Investors of record on Friday, February 3rd will be paid a $0.0047 dividend. This represents a $0.06 annualized dividend and a yield of 0.49%. The ex-dividend date is Wednesday, February 1st. Itau Unibanco Banco Holding SA’s dividend payout ratio is 5.11%.

Hedge funds have recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new stake in shares of Itau Unibanco Banco Holding SA during the second quarter valued at approximately $155,679,000. Schroder Investment Management Group raised its stake in shares of Itau Unibanco Banco Holding SA by 39.9% in the second quarter. Schroder Investment Management Group now owns 56,448,418 shares of the company’s stock valued at $532,872,000 after buying an additional 16,099,394 shares in the last quarter. Conatus Capital Management LP raised its stake in shares of Itau Unibanco Banco Holding SA by 197.3% in the third quarter. Conatus Capital Management LP now owns 7,251,980 shares of the company’s stock valued at $79,337,000 after buying an additional 4,812,330 shares in the last quarter. Horseman Capital Management Ltd bought a new stake in shares of Itau Unibanco Banco Holding SA during the second quarter valued at approximately $37,760,000. Finally, Axiom International Investors LLC DE raised its stake in shares of Itau Unibanco Banco Holding SA by 41.3% in the second quarter. Axiom International Investors LLC DE now owns 13,482,514 shares of the company’s stock valued at $127,275,000 after buying an additional 3,942,164 shares in the last quarter. 4.10% of the stock is currently owned by institutional investors and hedge funds.

About Itau Unibanco Banco Holding SA

Itau Unibanco Holding SA (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. It is engaged in banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange operations and other complementary activities.

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