Itaú Unibanco (NYSE:ITUB) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of Itaú Unibanco (NYSE:ITUB) from a neutral rating to a buy rating in a report published on Friday, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Finally, HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 target price on the stock in a research report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Itaú Unibanco has an average rating of “Buy” and a consensus target price of $6.90.

Itaú Unibanco Price Performance

Itaú Unibanco stock opened at $5.34 on Friday. Itaú Unibanco has a 52 week low of $4.86 and a 52 week high of $7.27. The firm has a market cap of $52.29 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.57 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The business’s fifty day moving average is $5.40 and its two-hundred day moving average is $6.01.

Itaú Unibanco Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.0029 per share. This is a boost 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 currently 3.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITUB. American Century Companies Inc. lifted its stake in Itaú Unibanco by 5.2% in the second quarter. American Century Companies Inc. now owns 3,390,965 shares of the bank’s stock valued at $19,803,000 after buying an additional 166,626 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Itaú Unibanco by 15.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,172,345 shares of the bank’s stock worth $6,846,000 after acquiring an additional 153,991 shares during the period. Dimensional Fund Advisors LP lifted its position in Itaú Unibanco by 33.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 228,293 shares of the bank’s stock valued at $1,333,000 after acquiring an additional 57,188 shares in the last quarter. Blair William & Co. IL boosted its stake in Itaú Unibanco by 56.3% in the 2nd quarter. Blair William & Co. IL now owns 41,367 shares of the bank’s stock worth $242,000 after purchasing an additional 14,893 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Itaú Unibanco by 9.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,219,210 shares of the bank’s stock worth $12,941,000 after purchasing an additional 186,594 shares in the last quarter.

Itaú Unibanco Company Profile

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.