Victory Capital Management Inc. Sells 71,819 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Victory Capital Management Inc. lessened its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,015,628 shares of the bank’s stock after selling 71,819 shares during the period. Victory Capital Management Inc. owned 0.07% of Itaú Unibanco worth $48,759,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its holdings in shares of Itaú Unibanco by 227.8% in the 3rd quarter. Lindbrook Capital LLC now owns 5,133 shares of the bank’s stock worth $28,000 after buying an additional 3,567 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Itaú Unibanco in the fourth quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Itaú Unibanco during the third quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Itaú Unibanco by 54.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after purchasing an additional 2,838 shares during the last quarter. Finally, TIAA Trust National Association purchased a new position in shares of Itaú Unibanco in the 3rd quarter worth about $62,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITUB. HSBC cut Itaú Unibanco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, January 16th.

Itaú Unibanco Trading Up 1.4 %

ITUB opened at $6.34 on Monday. Itaú Unibanco Holding S.A. has a 12 month low of $4.85 and a 12 month high of $7.27. The business’s 50-day moving average price is $6.60 and its 200-day moving average price is $6.50. The company has a current ratio of 1.59, a quick ratio of 1.58 and a debt-to-equity ratio of 2.25.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Monday, February 5th. The bank reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $7.75 billion for 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, analysts expect that Itaú Unibanco Holding S.A. will post 0.82 EPS for the current year.

Itaú Unibanco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be paid a $0.003 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 2nd. Itaú Unibanco’s payout ratio is 5.88%.

Itaú Unibanco Profile

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.