Northwest & Ethical Investments L.P. Lowers Stock Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Northwest & Ethical Investments L.P. reduced its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,160 shares of the bank’s stock after selling 170,594 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Itaú Unibanco were worth $2,681,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after buying an additional 2,469 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Itaú Unibanco during the 2nd quarter valued at about $65,000. Daymark Wealth Partners LLC purchased a new position in Itaú Unibanco in the 3rd quarter worth approximately $68,000. MQS Management LLC purchased a new position in Itaú Unibanco in the 3rd quarter worth approximately $70,000. Finally, Raymond James Trust N.A. purchased a new position in Itaú Unibanco in the 3rd quarter worth approximately $81,000.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $5.37 on Friday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a 1 year low of $5.28 and a 1 year high of $7.27. The stock’s 50 day simple moving average is $6.19 and its two-hundred day simple moving average is $6.23. The company has a market cap of $52.58 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.75 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is 3.85%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

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.