Itau Unibanco (NYSE:ITUB) Shares to Split on Monday, December 29th

Itau Unibanco Holding S.A. (NYSE:ITUB) shares are scheduled to split on Monday, December 29th. The 103-100 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Sunday, December 28th.

Itau Unibanco Stock Performance

Itau Unibanco stock opened at $7.28 on Thursday. The firm has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $7.02. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.33. Itau Unibanco has a twelve month low of $4.42 and a twelve month high of $8.13. The company has a market capitalization of $78.29 billion, a PE ratio of 10.07, a P/E/G ratio of 1.07 and a beta of 0.67.

Itau Unibanco Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Tuesday, June 2nd will be issued a dividend of $0.0033 per share. The ex-dividend date is Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 0.5%. Itau Unibanco’s dividend payout ratio is currently 526.39%.

Analyst Ratings Changes

Several analysts have weighed in on ITUB shares. Zacks Research downgraded Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their target price on shares of Itau Unibanco from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.09.

Institutional Trading of Itau Unibanco

Large investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd raised its holdings in Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after purchasing an additional 43,153,787 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Itau Unibanco by 39.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 57,624,188 shares of the bank’s stock valued at $422,962,000 after buying an additional 16,339,845 shares during the period. Samlyn Capital LLC bought a new position in Itau Unibanco in the third quarter worth about $99,388,000. Boston Partners lifted its holdings in Itau Unibanco by 1,667.7% in the third quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock worth $91,117,000 after buying an additional 11,711,487 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in Itau Unibanco by 51.9% in the second quarter. William Blair Investment Management LLC now owns 29,278,462 shares of the bank’s stock worth $198,860,000 after buying an additional 10,002,310 shares during the period.

About Itau Unibanco

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.