New York State Common Retirement Fund Acquires 331,473 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

New York State Common Retirement Fund raised its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,287,191 shares of the bank’s stock after buying an additional 331,473 shares during the period. New York State Common Retirement Fund’s holdings in Itaú Unibanco were worth $28,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. grew its position in shares of Itaú Unibanco by 571.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after purchasing an additional 5,862 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Itaú Unibanco in the 1st quarter valued at approximately $49,000. Dynamic Advisor Solutions LLC bought a new position in Itaú Unibanco in the 2nd quarter worth approximately $65,000. Daymark Wealth Partners LLC acquired a new position in shares of Itaú Unibanco during the third quarter worth approximately $68,000. Finally, Wealth Advisory Solutions LLC bought a new stake in shares of Itaú Unibanco in the second quarter valued at approximately $83,000.

Analysts Set New Price Targets

Separately, UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd.

Itaú Unibanco Trading Down 1.8 %

Shares of ITUB opened at $5.94 on Monday. The stock’s 50-day moving average price is $6.46 and its 200 day moving average price is $6.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $58.22 billion, a price-to-earnings 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 12-month low of $5.47 and a 12-month high of $7.27.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The business had revenue of $16.54 billion during the quarter, compared to analyst estimates of $7.72 billion. During the same period in the prior year, the company posted $0.18 earnings per share. As a group, research analysts predict that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is currently 3.95%.

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.