Mondrian Investment Partners LTD Sells 562,179 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Mondrian Investment Partners LTD decreased its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,917,679 shares of the bank’s stock after selling 562,179 shares during the quarter. Mondrian Investment Partners LTD owned 0.05% of Itaú Unibanco worth $29,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Itaú Unibanco by 67.0% during the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after buying an additional 1,755 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Itaú Unibanco by 571.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after buying an additional 5,862 shares during the period. Bessemer Group Inc. bought a new position in Itaú Unibanco during the first quarter worth about $49,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Itaú Unibanco during the second quarter worth $65,000. Finally, Sunpointe LLC purchased a new position in Itaú Unibanco during the 4th quarter valued at about $72,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Itaú Unibanco presently has an average rating of “Hold” and an average price target of $7.05.

Itaú Unibanco Stock Performance

ITUB opened at $6.71 on Wednesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. Itaú Unibanco Holding S.A. has a 1-year low of $5.12 and a 1-year high of $7.27. The company has a 50 day simple moving average of $6.39 and a two-hundred day simple moving average of $6.35. The firm has a market cap of $65.76 billion, a P/E ratio of 9.07, a PEG ratio of 0.85 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The firm had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be paid a $0.0031 dividend. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s payout ratio is currently 48.65%.

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.