Baillie Gifford & Co. Has $255.99 Million Position in Itau Unibanco Banco Holding SA (ITUB)

Baillie Gifford & Co. cut its stake in Itau Unibanco Banco Holding SA (NYSE:ITUB) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,166,562 shares of the bank’s stock after selling 406,439 shares during the period. Baillie Gifford & Co. owned 0.72% of Itau Unibanco Banco Holding SA worth $255,990,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ITUB. M&T Bank Corp bought a new position in shares of Itau Unibanco Banco Holding SA during the 1st quarter worth approximately $248,000. Ngam Advisors L.P. boosted its holdings in shares of Itau Unibanco Banco Holding SA by 1.0% during the 1st quarter. Ngam Advisors L.P. now owns 70,509 shares of the bank’s stock worth $851,000 after buying an additional 696 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Itau Unibanco Banco Holding SA by 154.7% during the 1st quarter. William Blair Investment Management LLC now owns 39,456 shares of the bank’s stock worth $476,000 after buying an additional 23,967 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Itau Unibanco Banco Holding SA by 381.3% during the 1st quarter. Morgan Stanley now owns 10,005,644 shares of the bank’s stock worth $120,768,000 after buying an additional 7,926,656 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Itau Unibanco Banco Holding SA by 0.8% during the 1st quarter. First Trust Advisors LP now owns 26,523 shares of the bank’s stock worth $320,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 4.41% of the company’s stock.

A number of equities analysts have issued reports on the company. ValuEngine upgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. J P Morgan Chase & Co cut Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price target on the stock. in a report on Wednesday, July 12th. Finally, Citigroup Inc. cut Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.25.

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Itau Unibanco Banco Holding SA (NYSE:ITUB) traded down 0.07% during trading on Friday, hitting $13.52. The company’s stock had a trading volume of 16,428,954 shares. The firm has a market cap of $87.86 billion, a P/E ratio of 11.79 and a beta of 1.60. The firm has a 50 day moving average of $12.54 and a 200 day moving average of $11.99. Itau Unibanco Banco Holding SA has a 12 month low of $9.10 and a 12 month high of $13.65.

Itau Unibanco Banco Holding SA declared that its board has initiated a stock buyback plan on Thursday, August 31st that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.0047 per share. The ex-dividend date of this dividend is Friday, September 1st. This is a boost 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%. Itau Unibanco Banco Holding SA’s payout ratio is 5.36%.

Itau Unibanco Banco Holding SA Company 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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