Victory Capital Management Inc. Cuts Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Victory Capital Management Inc. reduced its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 6.0% in the second quarter, Holdings Channel.com reports. The fund owned 6,160,877 shares of the bank’s stock after selling 394,059 shares during the period. Victory Capital Management Inc.’s holdings in Itaú Unibanco were worth $35,980,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITUB. William Blair Investment Management LLC raised its holdings in shares of Itaú Unibanco by 191.9% during the first quarter. William Blair Investment Management LLC now owns 33,040,433 shares of the bank’s stock valued at $228,968,000 after purchasing an additional 21,720,091 shares during the last quarter. Fisher Asset Management LLC grew its position in Itaú Unibanco by 43.7% in the 4th quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after purchasing an additional 15,908,536 shares during the period. Carmignac Gestion purchased a new stake in Itaú Unibanco during the 4th quarter valued at $92,644,000. Capital Research Global Investors lifted its holdings in shares of Itaú Unibanco by 460.6% during the 1st quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock valued at $105,766,000 after buying an additional 12,539,737 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Itaú Unibanco in the 4th quarter worth $23,769,000.

Itaú Unibanco Price Performance

Shares of Itaú Unibanco stock opened at $6.63 on Wednesday. The stock has a market cap of $64.98 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average is $6.33 and its 200 day moving average is $6.36. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period in the previous year, the firm earned $0.18 EPS. Sell-side analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 4.05%.

Analysts Set New Price Targets

A number of analysts recently commented on ITUB shares. Morgan Stanley upgraded Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Itaú Unibanco currently has a consensus rating of “Hold” and an average target price of $7.05.

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.