Robeco Institutional Asset Management B.V. cut its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB – Free Report) by 1.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 38,372,201 shares of the bank’s stock after selling 617,289 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Itaú Unibanco were worth $255,175,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after purchasing an additional 2,469 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Itaú Unibanco by 8.4% in the third quarter. New York State Common Retirement Fund now owns 4,287,191 shares of the bank’s stock worth $28,510,000 after buying an additional 331,473 shares in the last quarter. US Bancorp DE boosted its position in Itaú Unibanco by 2.1% during the third quarter. US Bancorp DE now owns 291,219 shares of the bank’s stock worth $1,937,000 after acquiring an additional 6,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Itaú Unibanco by 305.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 160,808 shares of the bank’s stock valued at $1,069,000 after acquiring an additional 121,140 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Itaú Unibanco by 176.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,730 shares of the bank’s stock valued at $111,000 after acquiring an additional 10,689 shares during the last quarter.
Itaú Unibanco Stock Down 1.8 %
Shares of NYSE ITUB opened at $5.94 on Monday. The company has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $6.27. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $58.22 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.78 and a beta of 0.98. Itaú Unibanco Holding S.A. has a 1 year low of $5.47 and a 1 year high of $7.27.
Itaú Unibanco Cuts Dividend
The business also recently declared a dividend, which will be paid on Thursday, January 9th. Stockholders 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 (DPR) is 3.95%.
Analysts Set New Price Targets
Separately, UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd.
Read Our Latest Research Report on ITUB
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.
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