SPX Gestao de Recursos Ltda Sells 721,033 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

SPX Gestao de Recursos Ltda lowered its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 76.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,662 shares of the bank’s stock after selling 721,033 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Itaú Unibanco were worth $1,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after purchasing an additional 23,299,313 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Itaú Unibanco during the 3rd quarter worth approximately $40,685,000. Marshall Wace LLP lifted its stake in shares of Itaú Unibanco by 200.4% during the 2nd quarter. Marshall Wace LLP now owns 7,679,311 shares of the bank’s stock worth $44,847,000 after acquiring an additional 5,122,752 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Itaú Unibanco by 14.8% during the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock worth $221,505,000 after acquiring an additional 4,888,099 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in shares of Itaú Unibanco by 77.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock worth $41,549,000 after acquiring an additional 3,106,130 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ITUB shares. JPMorgan Chase & Co. decreased their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Itaú Unibanco Stock Down 0.7 %

Itaú Unibanco stock traded down $0.04 during trading hours on Friday, reaching $5.34. The stock had a trading volume of 3,798,044 shares, compared to its average volume of 18,863,768. The company has a market cap of $52.34 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.68 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The business’s 50 day moving average price is $5.98 and its 200-day moving average price is $6.17. Itaú Unibanco Holding S.A. has a 52 week low of $5.25 and a 52 week high of $7.27.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s payout ratio is 47.44%.

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.