Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by INCA Investments LLC

INCA Investments LLC lowered its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 35.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,134,092 shares of the bank’s stock after selling 634,283 shares during the quarter. Itaú Unibanco makes up approximately 2.3% of INCA Investments LLC’s holdings, making the stock its 10th largest position. INCA Investments LLC’s holdings in Itaú Unibanco were worth $5,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Itaú Unibanco by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock valued at $338,016,000 after purchasing an additional 2,604,304 shares during the period. Fisher Asset Management LLC boosted its position in 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 during the period. Robeco Institutional Asset Management B.V. boosted its position in Itaú Unibanco by 3.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 39,658,215 shares of the bank’s stock worth $196,705,000 after acquiring an additional 1,286,014 shares during the period. Franklin Resources Inc. boosted its position in Itaú Unibanco by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock worth $174,930,000 after acquiring an additional 346,390 shares during the period. Finally, FMR LLC boosted its position in Itaú Unibanco by 12,592.2% during the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock worth $156,171,000 after acquiring an additional 23,299,313 shares during the period.

Analysts Set New Price Targets

ITUB has been the topic of a number of research reports. Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. UBS Group raised Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. 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. Finally, JPMorgan Chase & Co. cut their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Itaú Unibanco has a consensus rating of “Buy” and a consensus target price of $6.90.

Itaú Unibanco Stock Performance

Shares of ITUB stock opened at $5.87 on Friday. Itaú Unibanco Holding S.A. has a 1-year low of $4.86 and a 1-year high of $7.27. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $57.49 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 0.67 and a beta of 0.95. The stock’s fifty day simple moving average is $5.35 and its 200-day simple moving average is $5.96.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.76%. On average, sell-side analysts predict that Itaú Unibanco Holding S.A. will post 0.82 earnings per share for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s dividend payout ratio is 71.79%.

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.