MQS Management LLC Invests $70,000 in Itaú Unibanco Holding S.A. (NYSE:ITUB)

MQS Management LLC bought a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,493 shares of the bank’s stock, valued at approximately $70,000.

Several other hedge funds and other institutional investors have also modified their holdings of ITUB. Van ECK Associates Corp boosted its position 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 worth $38,000 after buying an additional 2,469 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Itaú Unibanco in the first quarter worth $49,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Itaú Unibanco in the second quarter worth $65,000. Daymark Wealth Partners LLC acquired a new stake in shares of Itaú Unibanco in the third quarter worth $68,000. Finally, Wealth Advisory Solutions LLC purchased a new stake in shares of Itaú Unibanco during the second quarter worth $83,000.

Itaú Unibanco Price Performance

Shares of NYSE:ITUB opened at $5.96 on Friday. Itaú Unibanco Holding S.A. has a 1 year low of $5.62 and a 1 year high of $7.27. The business has a fifty day simple moving average of $6.37 and a 200 day simple moving average of $6.26. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a market cap of $58.41 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.77 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITUB. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. cut their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.50.

About Itaú Unibanco

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.