BNP Paribas Financial Markets Sells 28,138 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

BNP Paribas Financial Markets trimmed its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,568 shares of the bank’s stock after selling 28,138 shares during the quarter. BNP Paribas Financial Markets’ holdings in Itaú Unibanco were worth $1,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITUB. Driehaus Capital Management LLC raised its stake in Itaú Unibanco by 77.5% in the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after buying an additional 3,106,130 shares during the last quarter. Perpetual Ltd grew its position in Itaú Unibanco by 9.0% during the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after purchasing an additional 1,126,695 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Itaú Unibanco by 2.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock valued at $134,606,000 after purchasing an additional 529,600 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Itaú Unibanco by 6.1% in the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after buying an additional 2,886,508 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Itaú Unibanco during the third quarter worth $925,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITUB. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. reduced 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 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. Based on data from MarketBeat, Itaú Unibanco currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Itaú Unibanco Price Performance

ITUB stock opened at $5.38 on Tuesday. The company has a market cap of $52.68 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.70 and a beta of 0.95. The firm has a 50-day moving average of $6.04 and a two-hundred day moving average of $6.18. Itaú Unibanco Holding S.A. has a 12 month low of $5.25 and a 12 month high of $7.27. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

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

Itaú Unibanco Company 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.