Itaú Unibanco Holding S.A. (NYSE:ITUB) Holdings Lifted by Fisher Asset Management LLC

Fisher Asset Management LLC grew its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 6.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,587,633 shares of the bank’s stock after purchasing an additional 2,886,508 shares during the quarter. Fisher Asset Management LLC’s holdings in Itaú Unibanco were worth $336,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Driehaus Capital Management LLC lifted its stake in shares of Itaú Unibanco by 77.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock worth $41,549,000 after acquiring an additional 3,106,130 shares during the period. Perpetual Ltd raised its holdings in Itaú Unibanco by 9.0% during the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after purchasing an additional 1,126,695 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in Itaú Unibanco by 2.3% in the second quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock worth $134,606,000 after purchasing an additional 529,600 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Itaú Unibanco by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock valued at $20,220,000 after purchasing an additional 504,500 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of Itaú Unibanco by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 9,556,375 shares of the bank’s stock valued at $63,550,000 after purchasing an additional 430,582 shares during the period.

Analysts Set New Price Targets

ITUB has been the topic of several research reports. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. dropped their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Itaú Unibanco Stock Down 0.2 %

Shares of Itaú Unibanco stock opened at $5.85 on Monday. The firm has a market cap of $57.34 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 0.76 and a beta of 0.98. The stock has a 50-day simple moving average of $6.28 and a 200-day simple moving average of $6.25. Itaú Unibanco Holding S.A. has a 52-week low of $5.62 and a 52-week high of $7.27. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders 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 presently 3.85%.

About Itaú 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.