Bank of Montreal Can reduced its holdings in Itau Unibanco Holding SA (NYSE:ITUB) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,131 shares of the bank’s stock after selling 154,310 shares during the period. Bank of Montreal Can owned 0.11% of Itau Unibanco worth $3,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITUB. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Itau Unibanco during the 4th quarter worth approximately $198,000. APG Asset Management N.V. boosted its position in shares of Itau Unibanco by 98.4% during the 4th quarter. APG Asset Management N.V. now owns 6,108,802 shares of the bank’s stock worth $292,773,000 after buying an additional 3,485,398 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Itau Unibanco by 172.3% during the 4th quarter. Pictet Asset Management Ltd. now owns 3,411,987 shares of the bank’s stock worth $183,779,000 after buying an additional 2,370,079 shares during the period. Bessemer Group Inc. boosted its position in shares of Itau Unibanco by 2.7% during the 4th quarter. Bessemer Group Inc. now owns 4,684,925 shares of the bank’s stock worth $226,984,000 after buying an additional 121,011 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Itau Unibanco during the 4th quarter worth approximately $251,000. 1.26% of the stock is currently owned by institutional investors and hedge funds.

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Shares of ITUB opened at $22.00 on Friday. Itau Unibanco Holding SA has a twelve month low of $21.00 and a twelve month high of $29.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $55.22 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.77 and a beta of 1.05.

ITUB has been the topic of several research analyst reports. Societe Generale set a $28.00 price objective on Itau Unibanco and gave the company a “buy” rating in a research note on Friday, December 7th. Keefe, Bruyette & Woods raised Itau Unibanco from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Monday, December 10th. ValuEngine raised Itau Unibanco from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Nomura raised Itau Unibanco from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 31st. Finally, JPMorgan Chase & Co. raised Itau Unibanco from a “neutral” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $24.43.

Itau Unibanco Profile

Itau Unibanco Holding SA, through its subsidiaries, provides various banking products and services in Brazil, Peru, Colombia, Mexico, Uruguay, and the United States. It offers savings and time deposits, as well as customer loans, such as mortgages, car loans, and consumer loans; and wholesale banking, investment banking, and financing to retail and corporate customers, as well as leasing, credit card processing, fixed income, and capital markets products.

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