Neuberger Berman Group LLC cut its stake in shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,026 shares of the bank’s stock after selling 1,073 shares during the quarter. Neuberger Berman Group LLC’s holdings in Itau Unibanco Banco Holding SA were worth $1,846,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp bought a new position in shares of Itau Unibanco Banco Holding SA during the first quarter valued at approximately $248,000. Ngam Advisors L.P. boosted its position in shares of Itau Unibanco Banco Holding SA by 1.0% during the first quarter. Ngam Advisors L.P. now owns 70,509 shares of the bank’s stock worth $851,000 after buying an additional 696 shares during the period. William Blair Investment Management LLC boosted its position in shares of Itau Unibanco Banco Holding SA by 154.7% during the first quarter. William Blair Investment Management LLC now owns 39,456 shares of the bank’s stock worth $476,000 after buying an additional 23,967 shares during the period. Morgan Stanley boosted its position in shares of Itau Unibanco Banco Holding SA by 381.3% during the first quarter. Morgan Stanley now owns 10,005,644 shares of the bank’s stock worth $120,768,000 after buying an additional 7,926,656 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Itau Unibanco Banco Holding SA by 0.8% during the first quarter. First Trust Advisors LP now owns 26,523 shares of the bank’s stock worth $320,000 after buying an additional 223 shares during the period. 4.41% of the stock is owned by institutional investors.

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Itau Unibanco Banco Holding SA (ITUB) opened at 13.97 on Friday. Itau Unibanco Banco Holding SA has a 12 month low of $9.10 and a 12 month high of $14.01. The firm has a market capitalization of $90.79 billion, a P/E ratio of 12.15 and a beta of 1.60. The stock’s 50 day moving average price is $12.83 and its 200 day moving average price is $12.02.

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 3rd will be issued a dividend of $0.0048 per share. This is a positive change from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $0.06 annualized dividend and a dividend yield of 0.41%. Itau Unibanco Banco Holding SA’s dividend payout ratio (DPR) is presently 5.36%.

Itau Unibanco Banco Holding SA announced that its board has authorized a stock buyback program on Thursday, August 31st that permits the company to buyback 60,000,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several brokerages have recently issued reports on ITUB. ValuEngine upgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Citigroup Inc. downgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co downgraded Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Itau Unibanco Banco Holding SA has a consensus rating of “Hold” and an average price target of $13.25.

About Itau Unibanco Banco Holding SA

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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Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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