Itau Unibanco Holding S.A. (NYSE:ITUB) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 19,050,510 shares, a decrease of 23.5% from the October 14th total of 24,896,550 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 13,049,531 shares, the days-to-cover ratio is presently 1.5 days.

Shares of Itau Unibanco Holding (NYSE:ITUB) opened at 10.08 on Tuesday. The stock has a market cap of $65.83 billion, a price-to-earnings ratio of 9.41 and a beta of 1.58. Itau Unibanco Holding has a 52 week low of $4.98 and a 52 week high of $12.19. The company has a 50-day moving average price of $10.99 and a 200-day moving average price of $9.44.

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 12th. Shareholders of record on Thursday, November 3rd will be paid a $0.0047 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Tuesday, November 1st. Itau Unibanco Holding’s payout ratio is 5.11%.

A number of analysts have recently weighed in on ITUB shares. Zacks Investment Research lowered Itau Unibanco Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Goldman Sachs Group Inc. raised Itau Unibanco Holding from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 19th. Finally, JPMorgan Chase & Co. dropped their price target on Itau Unibanco Holding from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.98.

A number of hedge funds have recently added to or reduced their stakes in ITUB. Emerald Acquisition Ltd. purchased a new stake in Itau Unibanco Holding during the second quarter worth about $155,679,000. Schroder Investment Management Group increased its stake in Itau Unibanco Holding by 39.9% in the second quarter. Schroder Investment Management Group now owns 56,448,418 shares of the company’s stock worth $532,872,000 after buying an additional 16,099,394 shares during the last quarter. Wellington Management Group LLP increased its stake in Itau Unibanco Holding by 3,678.5% in the first quarter. Wellington Management Group LLP now owns 8,002,786 shares of the company’s stock worth $68,743,000 after buying an additional 7,790,989 shares during the last quarter. Conatus Capital Management LP increased its stake in Itau Unibanco Holding by 197.3% in the third quarter. Conatus Capital Management LP now owns 7,251,980 shares of the company’s stock worth $79,337,000 after buying an additional 4,812,330 shares during the last quarter. Finally, Horseman Capital Management Ltd purchased a new stake in Itau Unibanco Holding during the second quarter worth about $37,760,000. 4.10% of the stock is currently owned by institutional investors and hedge funds.

About Itau Unibanco Holding

Itau Unibanco Holding SA (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. It is engaged in banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange operations and other complementary activities.

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