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

Fisher Asset Management LLC lifted its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,587,633 shares of the bank’s stock after acquiring an additional 2,886,508 shares during the quarter. Fisher Asset Management LLC owned 0.52% of Itaú Unibanco worth $336,408,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cerity Partners LLC raised its holdings in Itaú Unibanco by 31.1% in the third quarter. Cerity Partners LLC now owns 72,647 shares of the bank’s stock valued at $483,000 after acquiring an additional 17,216 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Itaú Unibanco in the 3rd quarter valued at about $81,000. Pzena Investment Management LLC raised its stake in shares of Itaú Unibanco by 61.2% in the 3rd quarter. Pzena Investment Management LLC now owns 371,725 shares of the bank’s stock valued at $2,472,000 after purchasing an additional 141,061 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Itaú Unibanco by 16.9% during the third quarter. Advisors Asset Management Inc. now owns 69,264 shares of the bank’s stock worth $461,000 after purchasing an additional 9,996 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Itaú Unibanco in the third quarter worth about $948,000.

Itaú Unibanco Stock Performance

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

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be given a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is currently 3.85%.

Analyst Ratings Changes

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

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.