Russell Investments Group Ltd. Reduces Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Russell Investments Group Ltd. cut its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,286,762 shares of the bank’s stock after selling 60,095 shares during the quarter. Russell Investments Group Ltd.’s holdings in Itaú Unibanco were worth $36,743,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Itaú Unibanco in the 3rd quarter worth about $28,000. Lindbrook Capital LLC grew its holdings in Itaú Unibanco by 227.8% during the 3rd quarter. Lindbrook Capital LLC now owns 5,133 shares of the bank’s stock valued at $28,000 after purchasing an additional 3,567 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Itaú Unibanco in the 4th quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Itaú Unibanco by 54.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after purchasing an additional 2,838 shares during the last quarter. Finally, TIAA Trust National Association bought a new stake in Itaú Unibanco in the third quarter worth about $62,000.

Itaú Unibanco Stock Performance

ITUB stock opened at $6.23 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25. Itaú Unibanco Holding S.A. has a 12 month low of $4.85 and a 12 month high of $7.27. The firm’s 50-day moving average is $6.67 and its 200 day moving average is $6.48.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Monday, February 5th. The bank reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Itaú Unibanco had a net margin of 10.48% and a return on equity of 17.76%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $8.05 billion. On average, analysts anticipate that Itaú Unibanco Holding S.A. will post 0.82 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.003 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, May 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 5.88%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America raised Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, January 16th. HSBC downgraded Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Itaú Unibanco 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.