Credit Suisse AG Has $13.91 Million Stake in Itau Unibanco Banco Holding SA (ITUB)

Credit Suisse AG lowered its position in Itau Unibanco Banco Holding SA (NYSE:ITUB) by 34.5% during the first quarter, Holdings Channel reports. The firm owned 1,152,492 shares of the bank’s stock after selling 607,555 shares during the period. Credit Suisse AG’s holdings in Itau Unibanco Banco Holding SA were worth $13,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ITUB. BlackRock Inc. increased its stake in shares of Itau Unibanco Banco Holding SA by 1,501.0% in the first quarter. BlackRock Inc. now owns 45,518,921 shares of the bank’s stock worth $549,413,000 after buying an additional 42,675,779 shares during the period. Orbis Allan Gray Ltd increased its stake in shares of Itau Unibanco Banco Holding SA by 72.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 28,070,118 shares of the bank’s stock worth $288,561,000 after buying an additional 11,792,788 shares during the period. Fisher Asset Management LLC bought a new position in Itau Unibanco Banco Holding SA during the first quarter valued at about $135,266,000. Morgan Stanley increased its position in Itau Unibanco Banco Holding SA by 381.3% in the first quarter. Morgan Stanley now owns 10,005,644 shares of the bank’s stock valued at $120,768,000 after buying an additional 7,926,656 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Itau Unibanco Banco Holding SA by 27.2% in the first quarter. Wellington Management Group LLP now owns 28,902,442 shares of the bank’s stock valued at $348,852,000 after buying an additional 6,188,145 shares during the last quarter. 5.52% of the stock is currently owned by hedge funds and other institutional investors.

Itau Unibanco Banco Holding SA (NYSE:ITUB) opened at 10.97 on Monday. The stock has a market capitalization of $71.57 billion, a P/E ratio of 10.11 and a beta of 1.61. The firm’s 50-day moving average is $11.10 and its 200 day moving average is $11.68. Itau Unibanco Banco Holding SA has a 12-month low of $8.66 and a 12-month high of $13.65.

The business also recently announced a special dividend, which will be paid on Friday, August 11th. Shareholders of record on Thursday, July 6th will be given a dividend of $0.0045 per share. This is a positive change from Itau Unibanco Banco Holding SA’s previous special dividend of $0.00. This represents a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, July 3rd. Itau Unibanco Banco Holding SA’s payout ratio is presently 4.66%.

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ITUB has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. ValuEngine raised shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. Finally, Scotiabank raised shares of Itau Unibanco Banco Holding SA from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 11th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $11.50.

Itau Unibanco Banco Holding SA Company Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Banco Holding SA (NYSE:ITUB).

Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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