Todd Asset Management LLC Cuts Stock Holdings in Itau Unibanco Holding SA (NYSE:ITUB)

Todd Asset Management LLC lowered its stake in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,899,903 shares of the bank’s stock after selling 100,569 shares during the quarter. Todd Asset Management LLC’s holdings in Itau Unibanco were worth $17,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in shares of Itau Unibanco during the first quarter worth $34,000. Advisors Asset Management Inc. increased its holdings in Itau Unibanco by 49.6% in the first quarter. Advisors Asset Management Inc. now owns 8,459 shares of the bank’s stock valued at $75,000 after buying an additional 2,803 shares during the last quarter. Investors Research Corp purchased a new position in Itau Unibanco in the first quarter valued at $79,000. Tech Square Trading LP purchased a new position in Itau Unibanco in the first quarter valued at $116,000. Finally, Cornerstone Advisors Inc. increased its holdings in Itau Unibanco by 148.0% in the second quarter. Cornerstone Advisors Inc. now owns 13,758 shares of the bank’s stock valued at $130,000 after buying an additional 8,211 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on ITUB shares. HSBC raised Itau Unibanco from a “reduce” rating to a “hold” rating in a report on Friday, May 17th. Zacks Investment Research raised Itau Unibanco from a “sell” rating to a “hold” rating in a report on Monday, April 29th. ValuEngine lowered Itau Unibanco from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised Itau Unibanco from a “neutral” rating to an “overweight” rating in a report on Thursday, August 1st. Finally, Morgan Stanley raised Itau Unibanco from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $9.50 to $13.50 in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.75.

NYSE:ITUB traded down $0.22 during trading hours on Friday, hitting $8.05. The company’s stock had a trading volume of 35,898,312 shares, compared to its average volume of 19,556,242. The stock has a market capitalization of $82.47 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.06 and a beta of 0.93. The stock has a fifty day moving average of $9.30 and a 200-day moving average of $9.07. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.74. Itau Unibanco Holding SA has a 52-week low of $6.57 and a 52-week high of $10.80.

The company also recently disclosed a dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.004 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. Itau Unibanco’s payout ratio is 7.46%.

About Itau Unibanco

Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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Institutional Ownership by Quarter for Itau Unibanco (NYSE:ITUB)

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