US Bancorp DE Reduces Stock Holdings in Itau Unibanco Holding S.A. $ITUB

US Bancorp DE lessened its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 67.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,658 shares of the bank’s stock after selling 172,131 shares during the quarter. US Bancorp DE’s holdings in Itau Unibanco were worth $607,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ITUB. Orbis Allan Gray Ltd lifted its stake in shares of Itau Unibanco by 104.3% during the second quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after buying an additional 43,153,787 shares during the period. Fisher Asset Management LLC increased its position in shares of Itau Unibanco by 10.5% in the 2nd quarter. Fisher Asset Management LLC now owns 61,497,171 shares of the bank’s stock valued at $417,566,000 after acquiring an additional 5,828,296 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Itau Unibanco by 39.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 57,624,188 shares of the bank’s stock worth $422,962,000 after acquiring an additional 16,339,845 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Itau Unibanco by 8.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 55,852,163 shares of the bank’s stock worth $379,236,000 after acquiring an additional 4,440,223 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Itau Unibanco by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,387,090 shares of the bank’s stock worth $303,781,000 after acquiring an additional 369,474 shares during the period.

Wall Street Analysts Forecast Growth

ITUB has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $9.00.

Itau Unibanco Price Performance

Shares of Itau Unibanco stock opened at $8.15 on Monday. The firm has a market cap of $90.27 billion, a PE ratio of 11.58, a P/E/G ratio of 0.89 and a beta of 0.63. Itau Unibanco Holding S.A. has a twelve month low of $4.91 and a twelve month high of $9.60. The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of 2.61. The business has a 50-day moving average price of $8.35 and a 200 day moving average price of $7.51.

Itau Unibanco (NYSE:ITUB) last announced its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Sell-side analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.068 per share. The ex-dividend date is Monday, March 23rd. Itau Unibanco’s payout ratio is 4.29%.

Itau Unibanco Profile

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.