Anthracite Investment Company Inc. Sells 70,000 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Anthracite Investment Company Inc. decreased its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 12.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 497,739 shares of the bank’s stock after selling 70,000 shares during the period. Itaú Unibanco comprises about 1.5% of Anthracite Investment Company Inc.’s portfolio, making the stock its 23rd biggest holding. Anthracite Investment Company Inc.’s holdings in Itaú Unibanco were worth $3,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after acquiring an additional 2,469 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Itaú Unibanco during the 1st quarter valued at $49,000. Dynamic Advisor Solutions LLC purchased a new stake in Itaú Unibanco during the 2nd quarter worth about $65,000. Daymark Wealth Partners LLC bought a new position in Itaú Unibanco in the 3rd quarter worth about $68,000. Finally, MQS Management LLC bought a new stake in shares of Itaú Unibanco during the third quarter valued at about $70,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ITUB. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. decreased their price target 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $5.96 on Wednesday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. 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 has a market cap of $58.41 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. The business has a 50 day moving average price of $6.32 and a 200-day moving average price of $6.26.

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 paid a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.85%.

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.