INCA Investments LLC cut its position in Itau Unibanco Holding SA (NYSE:ITUB) by 0.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,028,000 shares of the bank’s stock after selling 33,800 shares during the quarter. Itau Unibanco accounts for approximately 12.7% of INCA Investments LLC’s investment portfolio, making the stock its 2nd biggest holding. INCA Investments LLC’s holdings in Itau Unibanco were worth $52,364,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITUB. Harding Loevner LP raised its holdings in shares of Itau Unibanco by 225.1% during the third quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock valued at $774,895,000 after purchasing an additional 133,670,409 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Itau Unibanco during the third quarter valued at approximately $235,563,000. Fisher Asset Management LLC raised its holdings in shares of Itau Unibanco by 33.8% during the fourth quarter. Fisher Asset Management LLC now owns 25,914,919 shares of the bank’s stock valued at $336,894,000 after purchasing an additional 6,553,611 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in shares of Itau Unibanco during the fourth quarter valued at approximately $71,415,000. Finally, Baillie Gifford & Co. raised its holdings in shares of Itau Unibanco by 21.3% during the third quarter. Baillie Gifford & Co. now owns 28,091,190 shares of the bank’s stock valued at $384,849,000 after purchasing an additional 4,924,628 shares during the last quarter. 4.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Itau Unibanco Holding SA (NYSE ITUB) opened at $16.04 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.66 and a debt-to-equity ratio of 1.54. The stock has a market cap of $106,808.28, a P/E ratio of 14.26, a P/E/G ratio of 1.16 and a beta of 1.79. Itau Unibanco Holding SA has a 12-month low of $10.02 and a 12-month high of $16.98.
Itau Unibanco announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 18th that allows the company to buyback 28,620,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several research analysts have recently weighed in on ITUB shares. Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, December 11th. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. ValuEngine upgraded shares of Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, BidaskClub lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.25.
Itau Unibanco 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.
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