Seafarer Capital Partners LLC Decreases Position in Itau Unibanco Holding S.A. $ITUB

Seafarer Capital Partners LLC lowered its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,591,400 shares of the bank’s stock after selling 600,000 shares during the quarter. Itau Unibanco accounts for 22.2% of Seafarer Capital Partners LLC’s investment portfolio, making the stock its biggest position. Seafarer Capital Partners LLC owned 0.10% of Itau Unibanco worth $77,741,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of Itau Unibanco by 3,590.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock valued at $29,000 after purchasing an additional 4,201 shares during the last quarter. MAI Capital Management bought a new stake in Itau Unibanco in the 2nd quarter worth $41,000. EverSource Wealth Advisors LLC raised its stake in shares of Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after acquiring an additional 5,355 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Itau Unibanco during the third quarter worth about $60,000. Finally, Park Avenue Securities LLC grew its stake in shares of Itau Unibanco by 17.5% in the third quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock worth $88,000 after purchasing an additional 1,790 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ITUB. Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. Zacks Research raised shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Itau Unibanco from $6.80 to $7.77 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.77.

Itau Unibanco Stock Performance

Itau Unibanco stock opened at $8.60 on Monday. The stock’s 50 day moving average is $7.47 and its 200 day moving average is $7.05. The company has a market capitalization of $95.27 billion, a P/E ratio of 12.26, a PEG ratio of 1.01 and a beta of 0.62. Itau Unibanco Holding S.A. has a twelve month low of $4.73 and a twelve month high of $9.10. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.33.

Itau Unibanco Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, December 2nd will be given a $0.0032 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a c) annualized dividend and a yield of 0.4%. Itau Unibanco’s dividend payout ratio is 4.29%.

Itau Unibanco Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.