Freedom Investment Management Inc. Takes Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Freedom Investment Management Inc. purchased a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,558 shares of the bank’s stock, valued at approximately $90,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,469 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Itaú Unibanco during the 2nd quarter worth $65,000. Daymark Wealth Partners LLC acquired a new stake in Itaú Unibanco during the 3rd quarter worth $68,000. MQS Management LLC bought a new stake in shares of Itaú Unibanco during the 3rd quarter valued at $70,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Itaú Unibanco in the 3rd quarter valued at $81,000.

Itaú Unibanco Price Performance

ITUB opened at $5.31 on Tuesday. The stock has a market cap of $52.04 billion, a P/E ratio of 6.81, a P/E/G ratio of 0.70 and a beta of 0.98. Itaú Unibanco Holding S.A. has a 12 month low of $5.25 and a 12 month high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a fifty day simple moving average of $6.19 and a 200 day simple moving average of $6.22.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.85%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITUB. JPMorgan Chase & Co. dropped their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.50.

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.