OLD National Bancorp IN Sells 2,581 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

OLD National Bancorp IN cut its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,607 shares of the bank’s stock after selling 2,581 shares during the period. OLD National Bancorp IN’s holdings in Itaú Unibanco were worth $124,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quattro Financial Advisors LLC raised its position in Itaú Unibanco by 4,285,614.3% in the 1st quarter. Quattro Financial Advisors LLC now owns 300,000 shares of the bank’s stock valued at $2,079,000 after purchasing an additional 299,993 shares during the last quarter. Capital World Investors boosted its stake 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 valued at $59,974,000 after purchasing an additional 3,390,463 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Itaú Unibanco by 77.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock worth $41,549,000 after acquiring an additional 3,106,130 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Itaú Unibanco by 8.5% during the first 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 period. Finally, Perpetual Ltd grew its position in shares of Itaú Unibanco by 9.0% during the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after buying an additional 1,126,695 shares during the period.

Wall Street Analysts Forecast Growth

Separately, UBS Group downgraded shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd.

Itaú Unibanco Stock Performance

Shares of NYSE ITUB opened at $6.23 on Thursday. 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 has a 50 day moving average price of $6.54 and a 200 day moving average price of $6.28. The stock has a market capitalization of $61.06 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 52 week low of $5.27 and a 52 week high of $7.27.

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

Itaú Unibanco Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s payout ratio is 4.05%.

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.