Whittier Trust Co. Sells 8,082 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Whittier Trust Co. decreased its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.5% in the second quarter, Holdings Channel reports. The fund owned 100,213 shares of the bank’s stock after selling 8,082 shares during the quarter. Whittier Trust Co.’s holdings in Itaú Unibanco were worth $585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITUB. Wealth Advisory Solutions LLC bought a new stake in shares of Itaú Unibanco in the 2nd quarter worth about $83,000. Blue Trust Inc. raised its holdings in shares of Itaú Unibanco by 48.4% in the second quarter. Blue Trust Inc. now owns 35,343 shares of the bank’s stock worth $206,000 after buying an additional 11,519 shares during the period. Northcape Capital Pty Ltd lifted its stake in shares of Itaú Unibanco by 5.7% during the 2nd quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock worth $55,856,000 after acquiring an additional 519,529 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Itaú Unibanco by 19.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 39,668 shares of the bank’s stock valued at $232,000 after acquiring an additional 6,412 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Itaú Unibanco during the second quarter worth $65,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Itaú Unibanco currently has an average rating of “Hold” and a consensus price target of $7.05.

Itaú Unibanco Price Performance

Shares of ITUB stock traded down $0.14 on Thursday, reaching $6.60. 8,292,125 shares of the company were exchanged, compared to its average volume of 17,573,035. 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 debt-to-equity ratio of 2.37, a quick ratio of 1.54 and a current ratio of 1.54. The business has a 50-day moving average price of $6.18 and a 200 day moving average price of $6.38. The company has a market cap of $64.69 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 0.72 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Equities research analysts forecast that Itaú Unibanco Holding S.A. will post 0.81 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Tuesday, September 3rd. Itaú Unibanco’s payout ratio is 4.05%.

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.