Itaú Unibanco (NYSE:ITUB) Upgraded to “Buy” at UBS Group

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

A number of other analysts also recently issued reports on the company. Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. HSBC upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price objective on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $6.90.

Itaú Unibanco Stock Up 0.5 %

Shares of ITUB stock opened at $5.34 on Friday. The firm’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $6.01. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco has a 1 year low of $4.86 and a 1 year high of $7.27. The firm has a market capitalization of $52.29 billion, a P/E ratio of 6.84, a PEG ratio of 0.57 and a beta of 0.95.

Itaú Unibanco Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 4th will be paid a dividend of $0.0029 per share. This is an increase from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Tuesday, February 4th. Itaú Unibanco’s payout ratio is currently 3.85%.

Institutional Investors Weigh In On Itaú Unibanco

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Itaú Unibanco by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock worth $338,016,000 after purchasing an additional 2,604,304 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Itaú Unibanco by 6.1% during the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after buying an additional 2,886,508 shares during the period. Franklin Resources Inc. grew its stake in Itaú Unibanco by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock valued at $174,930,000 after buying an additional 346,390 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in Itaú Unibanco by 2.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock valued at $134,606,000 after acquiring an additional 529,600 shares during the period. Finally, FMR LLC raised its holdings in Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after acquiring an additional 23,299,313 shares during the period.

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.