BlackRock Inc. raised its position in shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) by 3.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,252,547 shares of the bank’s stock after buying an additional 1,733,626 shares during the quarter. BlackRock Inc. owned 1.46% of Itau Unibanco Banco Holding SA worth $522,140,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Itau Unibanco Banco Holding SA during the second quarter valued at about $115,000. Comerica Securities Inc. purchased a new stake in Itau Unibanco Banco Holding SA during the second quarter valued at about $117,000. Advisor Partners LLC purchased a new stake in Itau Unibanco Banco Holding SA during the second quarter valued at about $120,000. Park Avenue Securities LLC purchased a new stake in Itau Unibanco Banco Holding SA during the second quarter valued at about $137,000. Finally, Ronald Blue & Co. LLC lifted its stake in Itau Unibanco Banco Holding SA by 3.5% during the second quarter. Ronald Blue & Co. LLC now owns 12,157 shares of the bank’s stock valued at $134,000 after buying an additional 410 shares in the last quarter. 4.41% of the stock is owned by institutional investors.

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A number of analysts have commented on ITUB shares. ValuEngine raised shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Citigroup Inc. lowered shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Finally, J P Morgan Chase & Co lowered shares of 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 note on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $13.25.

Shares of Itau Unibanco Banco Holding SA (ITUB) opened at 13.88 on Friday. Itau Unibanco Banco Holding SA has a 1-year low of $9.10 and a 1-year high of $14.12. The firm’s 50-day moving average is $12.95 and its 200-day moving average is $12.02. The stock has a market capitalization of $90.20 billion, a price-to-earnings ratio of 12.12 and a beta of 1.60.

The business also recently announced a monthly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 3rd will be given 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. This represents a $0.06 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, October 2nd. Itau Unibanco Banco Holding SA’s payout ratio is presently 5.36%.

Itau Unibanco Banco Holding SA declared that its board has initiated a stock buyback program on Thursday, August 31st that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Itau Unibanco Banco Holding SA 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.

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

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