Sumitomo Mitsui Asset Management Company LTD Raises Holdings in Itau Unibanco Banco Holding SA (ITUB)

Sumitomo Mitsui Asset Management Company LTD grew its stake in Itau Unibanco Banco Holding SA (NYSE:ITUB) by 374.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,588 shares of the bank’s stock after buying an additional 66,751 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Itau Unibanco Banco Holding SA were worth $1,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Itau Unibanco Banco Holding SA during the second quarter worth $115,000. Quantitative Systematic Strategies LLC purchased a new position in Itau Unibanco Banco Holding SA in the third quarter valued at approximately $142,000. Comerica Securities Inc. purchased a new position in Itau Unibanco Banco Holding SA in the second quarter valued at approximately $117,000. Advisor Partners LLC purchased a new position in Itau Unibanco Banco Holding SA in the second quarter valued at approximately $120,000. Finally, Park Avenue Securities LLC purchased a new position in Itau Unibanco Banco Holding SA in the second quarter valued at approximately $137,000. 4.73% of the stock is owned by institutional investors and hedge funds.

Shares of Itau Unibanco Banco Holding SA (ITUB) traded up $0.07 during midday trading on Tuesday, hitting $13.24. 9,274,204 shares of the company were exchanged, compared to its average volume of 11,337,077. Itau Unibanco Banco Holding SA has a fifty-two week low of $9.10 and a fifty-two week 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. The company has a market capitalization of $82,040.00, a PE ratio of 11.24, a P/E/G ratio of 1.42 and a beta of 1.60.

Itau Unibanco Banco Holding SA announced that its Board of Directors has approved a stock repurchase program on Thursday, August 31st that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a monthly dividend, which will be paid on Friday, January 12th. Shareholders of record on Monday, December 4th will be given a $0.005 dividend. The ex-dividend date of this dividend is Friday, December 1st. This is a boost from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. This represents a $0.06 annualized dividend and a yield of 0.45%. Itau Unibanco Banco Holding SA’s payout ratio is 5.26%.

A number of equities research analysts recently weighed in on ITUB shares. ValuEngine upgraded shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub cut shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Citigroup Inc. cut shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research cut shares of Itau Unibanco Banco Holding SA from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.50.

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Itau Unibanco Banco Holding SA 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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