Matthews International Capital Management LLC Sells 106,847 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Matthews International Capital Management LLC decreased its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 45.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,201 shares of the bank’s stock after selling 106,847 shares during the quarter. Matthews International Capital Management LLC’s holdings in Itaú Unibanco were worth $636,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Itaú Unibanco by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock valued at $338,016,000 after acquiring an additional 2,604,304 shares during the period. Fisher Asset Management LLC boosted its position in shares of Itaú Unibanco by 6.1% during the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after acquiring an additional 2,886,508 shares in the last quarter. Franklin Resources Inc. increased its holdings in Itaú Unibanco by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock worth $174,930,000 after purchasing an additional 346,390 shares in the last quarter. FMR LLC grew its position in shares of Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after buying an additional 23,299,313 shares during the last quarter. Finally, Perpetual Ltd grew its holdings in Itaú Unibanco by 0.4% during the 4th quarter. Perpetual Ltd now owns 13,681,494 shares of the bank’s stock worth $67,860,000 after acquiring an additional 51,688 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HSBC raised Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price objective on the stock in a research note on Monday, January 13th. Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. 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 research report on Thursday, November 7th. Finally, UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $6.90.

Itaú Unibanco Trading Up 2.8 %

NYSE ITUB opened at $5.63 on Tuesday. Itaú Unibanco Holding S.A. has a 52 week low of $4.86 and a 52 week high of $7.27. The business has a 50 day moving average price of $5.33 and a 200-day moving average price of $5.99. 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 company has a market cap of $55.13 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 0.62 and a beta of 0.95.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $0.0029 per share. This is an increase from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Tuesday, February 4th. Itaú Unibanco’s dividend payout ratio is presently 2.56%.

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.