Earnest Partners LLC decreased its position in shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,581,238 shares of the bank’s stock after selling 232,298 shares during the quarter. Earnest Partners LLC owned approximately 0.11% of Itau Unibanco Banco Holding SA worth $39,573,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITUB. BlackRock Inc. lifted its stake in shares of Itau Unibanco Banco Holding SA by 1,501.0% in the 1st quarter. BlackRock Inc. now owns 45,518,921 shares of the bank’s stock valued at $549,413,000 after purchasing an additional 42,675,779 shares during the period. Capital Research Global Investors acquired a new position in shares of Itau Unibanco Banco Holding SA in the 2nd quarter valued at $222,425,000. Morgan Stanley lifted its stake in shares of Itau Unibanco Banco Holding SA by 381.3% in the 1st quarter. Morgan Stanley now owns 10,005,644 shares of the bank’s stock valued at $120,768,000 after purchasing an additional 7,926,656 shares during the period. Capital Growth Management LP lifted its stake in shares of Itau Unibanco Banco Holding SA by 508.4% in the 2nd quarter. Capital Growth Management LP now owns 5,050,000 shares of the bank’s stock valued at $55,802,000 after purchasing an additional 4,220,000 shares during the period. Finally, Barings LLC acquired a new position in shares of Itau Unibanco Banco Holding SA in the 1st quarter valued at $32,478,000. 4.41% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research analysts have recently weighed in on the company. Citigroup Inc. downgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. ValuEngine raised Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, 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 target on the stock. in a research note on Wednesday, July 12th.

Itau Unibanco Banco Holding SA (NYSE:ITUB) traded down 1.77% on Monday, hitting $13.89. The stock had a trading volume of 1,405,935 shares. The company’s 50 day moving average is $13.48 and its 200-day moving average is $12.16. The firm has a market capitalization of $90.27 billion, a price-to-earnings ratio of 12.13 and a beta of 1.63. Itau Unibanco Banco Holding SA has a 1-year low of $9.10 and a 1-year high of $14.59.

The company also recently announced a monthly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 3rd will be issued a $0.0048 dividend. This is a positive change from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $0.06 annualized dividend and a yield of 0.41%. Itau Unibanco Banco Holding SA’s payout ratio is presently 5.36%.

Itau Unibanco Banco Holding SA declared that its board has initiated a stock repurchase plan on Thursday, August 31st that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

About Itau Unibanco Banco Holding SA

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.

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

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