Legacy Wealth Asset Management LLC Sells 2,894 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Legacy Wealth Asset Management LLC reduced its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 89,656 shares of the bank’s stock after selling 2,894 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Itaú Unibanco were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Itaú Unibanco by 67.0% during the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after acquiring an additional 1,755 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Itaú Unibanco during the fourth quarter worth $36,000. National Bank of Canada FI increased its holdings in shares of Itaú Unibanco by 20,555.6% in the fourth quarter. National Bank of Canada FI now owns 7,436 shares of the bank’s stock valued at $51,000 after purchasing an additional 7,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Itaú Unibanco by 54.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock valued at $56,000 after purchasing an additional 2,838 shares during the period. Finally, Sunpointe LLC bought a new position in shares of Itaú Unibanco in the fourth quarter valued at about $72,000.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th.

Itaú Unibanco Stock Performance

Shares of NYSE ITUB opened at $6.00 on Friday. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market cap of $58.81 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 0.74 and a beta of 0.97. The stock’s fifty day moving average price is $6.12 and its two-hundred day moving average price is $6.51.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Monday, May 6th. The bank reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.34 billion. On average, equities analysts forecast that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current year.

Itaú Unibanco Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, June 24th will be paid a dividend of $0.0478 per share. The ex-dividend date is Monday, June 24th. This is a positive change from Itaú Unibanco’s previous Variable dividend of $0.00. Itaú Unibanco’s dividend payout ratio (DPR) is 4.05%.

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.