PNC Financial Services Group Inc. Has $643,000 Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

PNC Financial Services Group Inc. lessened its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,709 shares of the bank’s stock after selling 6,866 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Itaú Unibanco were worth $643,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ITUB. GSA Capital Partners LLP bought a new position in shares of Itaú Unibanco in the third quarter valued at approximately $373,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Itaú Unibanco by 65.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,150 shares of the bank’s stock valued at $294,000 after purchasing an additional 17,400 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Itaú Unibanco by 35.1% in the third quarter. Natixis Advisors LLC now owns 2,498,916 shares of the bank’s stock valued at $16,618,000 after purchasing an additional 648,973 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Itaú Unibanco by 4.5% in the third 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 in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Itaú Unibanco in the third quarter valued at approximately $6,722,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. HSBC upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target on the stock in a report on Monday, January 13th. Finally, Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.90.

Itaú Unibanco Stock Performance

Shares of Itaú Unibanco stock opened at $6.30 on Wednesday. The business’s fifty day simple moving average is $5.66 and its 200 day simple moving average is $5.85. The firm has a market capitalization of $61.70 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $6.39. The company has a current ratio of 1.34, a quick ratio of 1.75 and a debt-to-equity ratio of 2.32.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. As a group, analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itaú Unibanco Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.058 dividend. The ex-dividend date was Wednesday, February 19th. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s payout ratio is presently 2.56%.

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.