Daiwa Securities Group Inc. Has $2.79 Million Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Daiwa Securities Group Inc. trimmed its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 419,347 shares of the bank’s stock after selling 11,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Itaú Unibanco were worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its stake in Itaú Unibanco by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock valued at $20,220,000 after acquiring an additional 504,500 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Itaú Unibanco during the 2nd quarter worth approximately $165,000. Dynamic Advisor Solutions LLC bought a new position in shares of Itaú Unibanco in the second quarter valued at approximately $65,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Itaú Unibanco by 19.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,668 shares of the bank’s stock valued at $232,000 after acquiring an additional 6,412 shares during the last quarter. Finally, Northcape Capital Pty Ltd lifted its holdings in Itaú Unibanco by 5.7% during the second quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock worth $55,856,000 after acquiring an additional 519,529 shares during the period.

Analysts Set New Price Targets

ITUB has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $5.74 on Thursday. Itaú Unibanco Holding S.A. has a 52-week low of $5.62 and a 52-week high of $7.27. The business’s fifty day moving average is $6.23 and its 200 day moving average is $6.24. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $56.26 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.76 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is presently 3.85%.

Itaú Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.