Allianz Asset Management GmbH lowered its stake in Itau Unibanco Holding SA (NYSE:ITUB) by 90.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,435 shares of the bank’s stock after selling 416,117 shares during the period. Allianz Asset Management GmbH’s holdings in Itau Unibanco were worth $609,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC bought a new stake in Itau Unibanco in the third quarter valued at $142,000. Commerzbank Aktiengesellschaft FI raised its position in shares of Itau Unibanco by 69.0% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 108,840 shares of the bank’s stock worth $1,203,000 after purchasing an additional 44,439 shares during the last quarter. Ativo Capital Management LLC raised its position in shares of Itau Unibanco by 19.1% in the 2nd quarter. Ativo Capital Management LLC now owns 214,327 shares of the bank’s stock worth $2,368,000 after purchasing an additional 34,410 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Itau Unibanco by 3.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 241,675 shares of the bank’s stock worth $2,671,000 after purchasing an additional 8,626 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Itau Unibanco by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 1,764,285 shares of the bank’s stock worth $19,495,000 after buying an additional 64,532 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Shares of Itau Unibanco Holding SA (NYSE ITUB) opened at $13.00 on Friday. The stock has a market capitalization of $83,492.81, a P/E ratio of 11.30, a PEG ratio of 1.39 and a beta of 1.58. Itau Unibanco Holding SA has a twelve month low of $10.02 and a twelve month high of $14.59. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.57.

Itau Unibanco declared that its Board of Directors has approved a stock buyback plan on Monday, December 18th that allows the company to repurchase 28,620,000 outstanding shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a None dividend, which will be paid on Monday, February 12th. Investors of record on Wednesday, January 3rd will be issued a dividend of $0.004 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a yield of 0.42%. Itau Unibanco’s payout ratio is presently 34.78%.

Several equities research analysts recently commented on ITUB shares. Zacks Investment Research downgraded Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine downgraded Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. BidaskClub downgraded Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Deutsche Bank upgraded Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Itau Unibanco currently has a consensus rating of “Hold” and a consensus target price of $14.25.

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Itau Unibanco 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 (NYSE:ITUB)

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