Itaú Unibanco Holding S.A. (NYSE:ITUB) Stake Lessened by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 710,138 shares of the bank’s stock after selling 48,539 shares during the period. Moran Wealth Management LLC’s holdings in Itaú Unibanco were worth $3,522,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position 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 valued at $38,000 after acquiring an additional 2,469 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Itaú Unibanco in the 4th quarter valued at $57,000. Quantinno Capital Management LP purchased a new position in Itaú Unibanco in the 3rd quarter worth about $68,000. MQS Management LLC acquired a new stake in Itaú Unibanco during the 3rd quarter worth about $70,000. Finally, Raymond James Trust N.A. purchased a new stake in Itaú Unibanco during the third quarter valued at about $81,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ITUB. UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Hsbc Global Res upgraded shares of Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Finally, HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target for the company in a report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Itaú Unibanco presently has an average rating of “Buy” and an average target price of $6.90.

Itaú Unibanco Stock Performance

ITUB stock opened at $5.64 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34. The stock has a market cap of $55.23 billion, a P/E ratio of 7.22, a P/E/G ratio of 0.89 and a beta of 0.97. The firm has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $5.88. Itaú Unibanco Holding S.A. has a 52 week low of $4.86 and a 52 week high of $7.04.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share (EPS) 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 19.46%. Research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itaú Unibanco Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.058 dividend. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is currently 2.56%.

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.