Bank of New York Mellon Corp Reduces Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Bank of New York Mellon Corp cut its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,516 shares of the bank’s stock after selling 1,690 shares during the quarter. Bank of New York Mellon Corp’s holdings in Itaú Unibanco were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ITUB. Quattro Financial Advisors LLC increased its stake in shares of Itaú Unibanco by 4,285,614.3% in the first quarter. Quattro Financial Advisors LLC now owns 300,000 shares of the bank’s stock worth $2,079,000 after buying an additional 299,993 shares during the last quarter. Capital World Investors increased its position in shares of Itaú Unibanco by 64.4% in the 1st quarter. Capital World Investors now owns 8,654,237 shares of the bank’s stock worth $59,974,000 after purchasing an additional 3,390,463 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Itaú Unibanco by 8.5% in the 1st quarter. First Eagle Investment Management LLC now owns 1,398,982 shares of the bank’s stock worth $9,695,000 after purchasing an additional 109,259 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Itaú Unibanco by 20.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock valued at $20,220,000 after purchasing an additional 504,500 shares in the last quarter. Finally, Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in Itaú Unibanco in the fourth quarter valued at about $22,802,000.

Itaú Unibanco Stock Performance

Shares of ITUB stock opened at $6.49 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34. The business has a 50 day moving average of $6.42 and a two-hundred day moving average of $6.34. The company has a market cap of $63.56 billion, a P/E ratio of 8.76, a PEG ratio of 0.85 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 52 week low of $5.12 and a 52 week high of $7.27.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $16.54 billion during the quarter, compared to the consensus estimate 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 prior year, the business earned $0.18 EPS. As a group, analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 2nd will be given a $0.0031 dividend. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is presently 48.65%.

Analyst Ratings Changes

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

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.