Russell Investments Group Ltd. Sells 60,095 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Russell Investments Group Ltd. lessened its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,286,762 shares of the bank’s stock after selling 60,095 shares during the period. Russell Investments Group Ltd.’s holdings in Itaú Unibanco were worth $36,743,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ITUB. Lindbrook Capital LLC boosted its stake in Itaú Unibanco by 227.8% during the third quarter. Lindbrook Capital LLC now owns 5,133 shares of the bank’s stock worth $28,000 after acquiring an additional 3,567 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Itaú Unibanco during the 4th quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Itaú Unibanco during the 3rd quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Itaú Unibanco by 54.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after buying an additional 2,838 shares during the period. Finally, TIAA Trust National Association acquired a new stake in Itaú Unibanco in the third quarter valued at approximately $62,000.

Itaú Unibanco Trading Down 1.1 %

Shares of NYSE ITUB opened at $6.23 on Tuesday. The business has a 50-day simple moving average of $6.67 and a two-hundred day simple moving average of $6.48. Itaú Unibanco Holding S.A. has a 52 week low of $4.85 and a 52 week high of $7.27. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.58 and a current ratio of 1.59.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Monday, February 5th. The bank reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. On average, equities analysts predict that Itaú Unibanco Holding S.A. will post 0.82 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be given a $0.003 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.04 annualized dividend and a yield of 0.58%. Itaú Unibanco’s dividend payout ratio (DPR) is presently 5.88%.

Wall Street Analysts Forecast Growth

ITUB has been the subject of a number of analyst reports. HSBC cut shares of Itaú Unibanco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Tuesday, January 16th.

About Itaú Unibanco

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.