HBK Sorce Advisory LLC Sells 7,719 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

HBK Sorce Advisory LLC decreased its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,571 shares of the bank’s stock after selling 7,719 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Itaú Unibanco were worth $147,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ITUB. Mount Yale Investment Advisors LLC bought a new position in shares of Itaú Unibanco in the fourth quarter worth about $57,000. Quantinno Capital Management LP bought a new position in shares of Itaú Unibanco in the third quarter worth about $68,000. MQS Management LLC bought a new position in shares of Itaú Unibanco in the third quarter worth about $70,000. Raymond James Trust N.A. bought a new position in shares of Itaú Unibanco in the third quarter worth about $81,000. Finally, Fielder Capital Group LLC raised its stake in shares of Itaú Unibanco by 13.2% in the fourth quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank’s stock worth $85,000 after buying an additional 2,001 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ITUB shares. Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. HSBC raised Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 target price on the stock in a research note on Monday, January 13th. Finally, UBS Group raised Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Four investment 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 has an average rating of “Buy” and a consensus price target of $6.90.

Itaú Unibanco Stock Performance

NYSE ITUB opened at $6.00 on Friday. The stock has a market capitalization of $58.76 billion, a PE ratio of 7.69, a P/E/G ratio of 0.89 and a beta of 0.97. The business has a 50 day simple moving average of $5.61 and a two-hundred day simple moving average of $5.86. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a 1-year low of $4.86 and a 1-year high of $7.03.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share 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%. On average, research analysts predict that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s dividend payout ratio (DPR) is currently 2.56%.

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.