Anthracite Investment Company Inc. Sells 70,000 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Anthracite Investment Company Inc. trimmed its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,739 shares of the bank’s stock after selling 70,000 shares during the period. Itaú Unibanco comprises approximately 1.5% of Anthracite Investment Company Inc.’s investment portfolio, making the stock its 23rd biggest position. Anthracite Investment Company Inc.’s holdings in Itaú Unibanco were worth $3,310,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ITUB. Van ECK Associates Corp increased its stake in shares of Itaú Unibanco by 68.5% in the third 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. Bessemer Group Inc. bought a new stake in Itaú Unibanco in the first quarter valued at approximately $49,000. Dynamic Advisor Solutions LLC acquired a new stake in Itaú Unibanco during the 2nd quarter valued at approximately $65,000. Daymark Wealth Partners LLC bought a new position in Itaú Unibanco during the 3rd quarter worth approximately $68,000. Finally, MQS Management LLC acquired a new position in shares of Itaú Unibanco in the 3rd quarter worth approximately $70,000.

Analyst Ratings Changes

A number of analysts have weighed in on ITUB shares. 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. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Itaú Unibanco Price Performance

Shares of NYSE:ITUB opened at $5.96 on Wednesday. The stock’s 50 day moving average is $6.32 and its 200-day moving average is $6.26. Itaú Unibanco Holding S.A. has a twelve month low of $5.62 and a twelve month high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $58.41 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.77 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is currently 3.85%.

Itaú Unibanco Company 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.