Franklin Resources Inc. Sells 626,276 Shares of Itau Unibanco Holding S.A. $ITUB

Franklin Resources Inc. decreased its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 30,843,272 shares of the bank’s stock after selling 626,276 shares during the period. Franklin Resources Inc. owned approximately 0.29% of Itau Unibanco worth $209,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fielder Capital Group LLC increased its holdings in Itau Unibanco by 10.0% in the first quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank’s stock valued at $103,000 after purchasing an additional 1,710 shares during the last quarter. Flputnam Investment Management Co. grew its position in shares of Itau Unibanco by 10.7% during the 1st quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank’s stock worth $110,000 after buying an additional 1,930 shares during the period. Hamilton Capital LLC increased its stake in shares of Itau Unibanco by 15.5% in the 1st quarter. Hamilton Capital LLC now owns 16,081 shares of the bank’s stock valued at $88,000 after acquiring an additional 2,163 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Itau Unibanco by 31.7% in the 2nd quarter. Parallel Advisors LLC now owns 10,195 shares of the bank’s stock valued at $69,000 after acquiring an additional 2,455 shares during the period. Finally, Avantax Advisory Services Inc. boosted its stake in Itau Unibanco by 21.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank’s stock worth $76,000 after acquiring an additional 2,468 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on ITUB shares. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Itau Unibanco in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.18.

Itau Unibanco Stock Performance

Shares of ITUB stock opened at $7.39 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.86. The company’s 50 day moving average price is $7.25 and its two-hundred day moving average price is $6.87. The company has a market capitalization of $79.67 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.10 and a beta of 0.85.

About Itau Unibanco

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.