Segall Bryant & Hamill LLC purchased a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 142,600 shares of the bank's stock, valued at approximately $948,000.
Several other hedge funds also recently modified their holdings of ITUB. Van ECK Associates Corp boosted its stake in shares of 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. Bessemer Group Inc. acquired a new stake in shares of Itaú Unibanco during the 1st quarter worth about $49,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Itaú Unibanco during the 2nd quarter worth about $65,000. Daymark Wealth Partners LLC acquired a new stake in shares of Itaú Unibanco in the third quarter worth approximately $68,000. Finally, MQS Management LLC acquired a new stake in shares of Itaú Unibanco in the third quarter worth approximately $70,000.
Several equities research analysts recently issued reports on ITUB shares. JPMorgan Chase & Co. decreased their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. UBS Group cut shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $7.50.
Get Our Latest Research Report on Itaú Unibanco
Shares of ITUB stock opened at $5.85 on Friday. The stock has a market cap of $57.34 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.62 and a fifty-two week high of $7.27. The firm's 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.25.
The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Shareholders 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 3.85%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Itaú Unibanco, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Itaú Unibanco wasn't on the list.
While Itaú Unibanco currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.