Mount Yale Investment Advisors LLC Buys New Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Mount Yale Investment Advisors LLC purchased a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,415 shares of the bank’s stock, valued at approximately $57,000.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after purchasing an additional 2,469 shares during the period. Daymark Wealth Partners LLC acquired a new stake in Itaú Unibanco during the 3rd quarter valued at approximately $68,000. Quantinno Capital Management LP acquired a new stake in Itaú Unibanco during the 3rd quarter valued at approximately $68,000. MQS Management LLC acquired a new stake in shares of Itaú Unibanco in the third quarter worth $70,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Itaú Unibanco during the third quarter worth $81,000.

Itaú Unibanco Trading Down 0.6 %

ITUB stock opened at $5.66 on Thursday. Itaú Unibanco Holding S.A. has a 52-week low of $4.86 and a 52-week high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a market cap of $55.42 billion, a P/E ratio of 7.25, a PEG ratio of 0.62 and a beta of 0.95. The company’s 50-day simple moving average is $5.31 and its 200-day simple moving average is $5.98.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 4th will be issued a $0.0029 dividend. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date of this dividend is Tuesday, February 4th. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HSBC raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target on the stock in a report on Monday, January 13th. UBS Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $6.90.

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.