Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Acquired by State Street Corp

State Street Corp grew its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,522,486 shares of the bank’s stock after acquiring an additional 861,500 shares during the period. State Street Corp’s holdings in Itaú Unibanco were worth $83,899,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its holdings in Itaú Unibanco by 68.5% in the third 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 period. Daymark Wealth Partners LLC purchased a new position in Itaú Unibanco in the third quarter valued at $68,000. Quantinno Capital Management LP purchased a new position in Itaú Unibanco in the third quarter valued at $68,000. MQS Management LLC purchased a new position in Itaú Unibanco in the third quarter valued at $70,000. Finally, Raymond James Trust N.A. purchased a new position in Itaú Unibanco in the third quarter valued at $81,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ITUB shares. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. decreased their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Stock Down 1.4 %

Shares of NYSE ITUB opened at $5.20 on Tuesday. The company has a market capitalization of $50.92 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The business has a 50-day moving average of $5.93 and a two-hundred day moving average of $6.16. Itaú Unibanco Holding S.A. has a 1 year low of $5.17 and a 1 year high of $7.27.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Shareholders 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 46.15%.

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.