Thrivent Financial for Lutherans Boosts Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Thrivent Financial for Lutherans increased its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 874,890 shares of the bank’s stock after acquiring an additional 37,954 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Itaú Unibanco were worth $5,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ITUB. Bessemer Group Inc. acquired a new position in Itaú Unibanco in the first quarter valued at approximately $49,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Itaú Unibanco by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock worth $20,220,000 after purchasing an additional 504,500 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Itaú Unibanco in the 2nd quarter valued at about $165,000. Dynamic Advisor Solutions LLC acquired a new position in Itaú Unibanco in the second quarter valued at about $65,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Itaú Unibanco by 19.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,668 shares of the bank’s stock worth $232,000 after buying an additional 6,412 shares during the period.

Wall Street Analyst Weigh In

ITUB has been the topic of several recent analyst reports. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. decreased their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Itaú Unibanco currently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Itaú Unibanco Stock Down 0.2 %

Shares of ITUB opened at $5.85 on Friday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $57.34 billion, a PE ratio of 7.50, a P/E/G ratio of 0.76 and a beta of 0.98. The company’s 50-day simple moving average is $6.28 and its 200-day simple moving average is $6.25. Itaú Unibanco Holding S.A. has a 1 year low of $5.62 and a 1 year high of $7.27.

Itaú Unibanco Cuts Dividend

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 $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is presently 3.85%.

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.