BARING ASSET MANAGEMENT Ltd Has $33.99 Million Holdings in Itau Unibanco Banco Holding SA (ITUB)

BARING ASSET MANAGEMENT Ltd cut its stake in shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,481,182 shares of the bank’s stock after selling 209,600 shares during the period. Itau Unibanco Banco Holding SA makes up 2.0% of BARING ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 14th biggest holding. BARING ASSET MANAGEMENT Ltd’s holdings in Itau Unibanco Banco Holding SA were worth $33,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Itau Unibanco Banco Holding SA during the 2nd quarter valued at approximately $115,000. Comerica Securities Inc. purchased a new stake in Itau Unibanco Banco Holding SA during the 2nd quarter valued at approximately $117,000. Advisor Partners LLC purchased a new stake in Itau Unibanco Banco Holding SA during the 2nd quarter valued at approximately $120,000. Ronald Blue & Co. LLC raised its stake in Itau Unibanco Banco Holding SA by 3.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 12,157 shares of the bank’s stock valued at $134,000 after acquiring an additional 410 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Itau Unibanco Banco Holding SA during the 2nd quarter valued at approximately $137,000. 4.50% of the stock is owned by hedge funds and other institutional investors.

Shares of Itau Unibanco Banco Holding SA (NYSE ITUB) traded down 1.41% during trading on Monday, hitting $13.26. The stock had a trading volume of 3,275,467 shares. The firm’s 50-day moving average is $13.81 and its 200-day moving average is $12.33. Itau Unibanco Banco Holding SA has a one year low of $9.10 and a one year high of $14.59. The firm has a market cap of $86.17 billion, a P/E ratio of 11.58 and a beta of 1.63.

The firm also recently declared a monthly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 2nd will be issued a dividend of $0.0048 per share. The ex-dividend date is Wednesday, November 1st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.42%. Itau Unibanco Banco Holding SA’s dividend payout ratio (DPR) is presently 5.36%.

Itau Unibanco Banco Holding SA announced that its board has authorized a share buyback plan on Thursday, August 31st that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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Several research firms have commented on ITUB. ValuEngine downgraded Itau Unibanco Banco Holding SA from a “strong-buy” rating to a “buy” rating in a research note on Friday. BidaskClub downgraded Itau Unibanco Banco Holding SA from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Citigroup Inc. downgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. 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 objective for the company. in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Itau Unibanco Banco Holding SA presently has a consensus rating of “Hold” and an average price target of $12.50.

Itau Unibanco Banco Holding SA Company 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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