Itau Unibanco (ITUB) Upgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley upgraded shares of Itau Unibanco (NYSE:ITUB) from an underweight rating to an equal weight rating in a report issued on Friday morning, The Fly reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Itau Unibanco from a hold rating to a sell rating in a research note on Friday, October 19th. ValuEngine upgraded shares of Itau Unibanco from a sell rating to a hold rating in a research note on Wednesday, October 3rd. Finally, Citigroup cut shares of Itau Unibanco from a buy rating to a neutral rating in a research note on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $16.50.

ITUB stock traded up $0.18 during trading hours on Friday, reaching $13.56. The stock had a trading volume of 17,859,275 shares, compared to its average volume of 16,629,750. The stock has a market cap of $88.64 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.27 and a beta of 1.14. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.77 and a quick ratio of 1.35. Itau Unibanco has a fifty-two week low of $9.85 and a fifty-two week high of $16.98.

The business also recently announced a special dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.0039 per share. This represents a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, November 1st. Itau Unibanco’s dividend payout ratio is presently 4.39%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd lifted its stake in shares of Itau Unibanco by 8.1% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 53,534 shares of the bank’s stock worth $555,000 after buying an additional 4,020 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Itau Unibanco by 5.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 110,567 shares of the bank’s stock worth $1,147,000 after buying an additional 5,358 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Itau Unibanco by 143.2% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the bank’s stock worth $110,000 after buying an additional 5,889 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Itau Unibanco by 23.4% during the 3rd quarter. Checchi Capital Advisers LLC now owns 31,101 shares of the bank’s stock worth $341,000 after buying an additional 5,904 shares during the last quarter. Finally, HPM Partners LLC lifted its stake in shares of Itau Unibanco by 30.0% during the 2nd quarter. HPM Partners LLC now owns 30,028 shares of the bank’s stock worth $312,000 after buying an additional 6,938 shares during the last quarter. Institutional investors own 5.40% of the company’s stock.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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The Fly

Analyst Recommendations for Itau Unibanco (NYSE:ITUB)

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