Pacad Investment Ltd. cut its stake in shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) by 83.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,300 shares of the bank’s stock after selling 99,399 shares during the quarter. Pacad Investment Ltd.’s holdings in Itau Unibanco Banco Holding SA were worth $224,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Baldwin Investment Management LLC increased its holdings in shares of Itau Unibanco Banco Holding SA by 1.2% during the second quarter. Baldwin Investment Management LLC now owns 45,977 shares of the bank’s stock valued at $508,000 after acquiring an additional 531 shares in the last quarter. DSAM Partners London Ltd bought a new position in shares of Itau Unibanco Banco Holding SA during the second quarter valued at $3,582,000. Newfoundland Capital Management bought a new position in shares of Itau Unibanco Banco Holding SA during the second quarter valued at $857,000. American Century Companies Inc. increased its holdings in shares of Itau Unibanco Banco Holding SA by 3.8% during the second quarter. American Century Companies Inc. now owns 1,764,285 shares of the bank’s stock valued at $19,495,000 after acquiring an additional 64,532 shares in the last quarter. Finally, Herndon Capital Management LLC bought a new position in shares of Itau Unibanco Banco Holding SA during the second quarter valued at $575,000. Hedge funds and other institutional investors own 4.41% of the company’s stock.

Shares of Itau Unibanco Banco Holding SA (NYSE ITUB) opened at 13.61 on Wednesday. The company has a market capitalization of $88.45 billion, a P/E ratio of 11.87 and a beta of 1.60. The company has a 50-day moving average price of $12.60 and a 200 day moving average price of $11.98. Itau Unibanco Banco Holding SA has a 12-month low of $9.10 and a 12-month high of $13.92.

Itau Unibanco Banco Holding SA declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 31st that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.0047 per share. This is a boost from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, September 1st. Itau Unibanco Banco Holding SA’s dividend payout ratio is 5.36%.

Several equities analysts have recently weighed in on ITUB shares. Citigroup Inc. downgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. J P Morgan Chase & Co downgraded Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price objective for the company. in a report on Wednesday, July 12th. Finally, ValuEngine upgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.25.

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Itau Unibanco Banco Holding SA Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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