Moran Wealth Management LLC Sells 48,539 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Moran Wealth Management LLC lowered its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 710,138 shares of the bank’s stock after selling 48,539 shares during the quarter. Moran Wealth Management LLC’s holdings in Itaú Unibanco were worth $3,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITUB. Van ECK Associates Corp increased its holdings in Itaú Unibanco by 68.5% in 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 during the period. Mount Yale Investment Advisors LLC bought a new stake in Itaú Unibanco in the 4th quarter valued at $57,000. Quantinno Capital Management LP bought a new stake in Itaú Unibanco in the 3rd quarter valued at $68,000. MQS Management LLC acquired a new stake in shares of Itaú Unibanco in the 3rd quarter valued at $70,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Itaú Unibanco in the 3rd quarter valued at $81,000.

Analyst Upgrades and Downgrades

ITUB has been the topic of several recent analyst reports. HSBC upgraded shares of 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. Hsbc Global Res upgraded shares of Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. Finally, UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Itaú Unibanco presently has a consensus rating of “Buy” and a consensus price target of $6.90.

Itaú Unibanco Stock Down 0.8 %

Shares of NYSE ITUB opened at $5.64 on Tuesday. The firm’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $5.88. The company has a market cap of $55.23 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a 12-month low of $4.86 and a 12-month high of $7.04.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly 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 return on equity of 19.46% and a net margin of 12.25%. On average, research analysts expect that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.058 per share. This is an increase from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio is 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.