Raymond James Trust N.A. Invests $81,000 in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Raymond James Trust N.A. purchased a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) in the third quarter, HoldingsChannel reports. The firm purchased 12,211 shares of the bank’s stock, valued at approximately $81,000.

Several other institutional investors have also recently bought and sold shares of the stock. Pzena Investment Management LLC increased its stake in shares of Itaú Unibanco by 61.2% in the 3rd quarter. Pzena Investment Management LLC now owns 371,725 shares of the bank’s stock valued at $2,472,000 after buying an additional 141,061 shares during the period. Advisors Asset Management Inc. increased its position in Itaú Unibanco by 16.9% in the third quarter. Advisors Asset Management Inc. now owns 69,264 shares of the bank’s stock worth $461,000 after purchasing an additional 9,996 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Itaú Unibanco during the 3rd quarter worth about $948,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Itaú Unibanco during the 3rd quarter valued at about $6,722,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Itaú Unibanco by 4.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 874,890 shares of the bank’s stock valued at $5,818,000 after purchasing an additional 37,954 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Itaú Unibanco Stock Performance

Shares of ITUB stock opened at $5.74 on Friday. The stock has a market cap of $56.26 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98. The stock has a 50-day moving average of $6.21 and a 200-day moving average of $6.24. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a one year low of $5.62 and a one year high of $7.27.

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is presently 3.85%.

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.