Robeco Institutional Asset Management B.V. Increases Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Robeco Institutional Asset Management B.V. lifted its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,658,215 shares of the bank’s stock after purchasing an additional 1,286,014 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.40% of Itaú Unibanco worth $196,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ITUB. Van ECK Associates Corp lifted its position in shares of Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after purchasing an additional 2,469 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Itaú Unibanco during the third quarter worth about $68,000. Daymark Wealth Partners LLC acquired a new stake in shares of Itaú Unibanco during the third quarter worth about $68,000. MQS Management LLC acquired a new stake in shares of Itaú Unibanco during the third quarter worth about $70,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Itaú Unibanco during the fourth quarter worth about $57,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target on the stock in a research note on Monday, January 13th. UBS Group raised Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.90.

Itaú Unibanco Stock Up 1.2 %

Shares of Itaú Unibanco stock opened at $5.69 on Wednesday. The stock has a 50-day moving average price of $5.31 and a 200 day moving average price of $5.98. The company has a market cap of $55.72 billion, a P/E ratio of 7.29, a P/E/G ratio of 0.62 and a beta of 0.95. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 1 year low of $4.86 and a 1 year high of $7.27.

Itaú Unibanco Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 4th will be issued a $0.0029 dividend. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Tuesday, February 4th. Itaú Unibanco’s payout ratio is 3.85%.

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.