Itau Unibanco (NYSE:ITUB) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Itau Unibanco (NYSE:ITUB) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. Citigroup upgraded Itau Unibanco from a neutral rating to a buy rating in a research report on Tuesday, August 27th. Goldman Sachs Group assumed coverage on Itau Unibanco in a research report on Monday, June 10th. They issued a sell rating for the company. Morgan Stanley upgraded Itau Unibanco from an equal weight rating to an overweight rating and increased their price objective for the stock from $9.50 to $13.50 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upgraded Itau Unibanco from a neutral rating to an overweight rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Itau Unibanco currently has an average rating of Hold and an average target price of $12.75.

NYSE:ITUB opened at $8.26 on Tuesday. The stock has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $8.75. The stock has a market capitalization of $77.36 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.12 and a beta of 0.82. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.73 and a current ratio of 1.73. Itau Unibanco has a 1 year low of $7.59 and a 1 year high of $10.80.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.60 billion. Itau Unibanco had a return on equity of 18.40% and a net margin of 15.57%. On average, analysts predict that Itau Unibanco will post 0.74 EPS for the current year.

The company also recently declared a — dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Wednesday, October 2nd will be given a $0.0037 dividend. This represents a dividend yield of 5.1%. The ex-dividend date is Tuesday, October 1st. Itau Unibanco’s dividend payout ratio is currently 5.97%.

Several hedge funds have recently made changes to their positions in ITUB. Invesco Ltd. increased its position in shares of Itau Unibanco by 851.9% in the second quarter. Invesco Ltd. now owns 26,350,070 shares of the bank’s stock valued at $248,217,000 after buying an additional 23,581,954 shares in the last quarter. Provida Pension Fund Administrator purchased a new position in shares of Itau Unibanco in the second quarter valued at $55,667,000. Bank of America Corp DE increased its position in shares of Itau Unibanco by 92.1% in the second quarter. Bank of America Corp DE now owns 12,745,678 shares of the bank’s stock valued at $120,065,000 after buying an additional 6,111,153 shares in the last quarter. FMR LLC increased its position in shares of Itau Unibanco by 11.2% in the first quarter. FMR LLC now owns 54,664,156 shares of the bank’s stock valued at $481,592,000 after buying an additional 5,486,637 shares in the last quarter. Finally, TT International purchased a new position in shares of Itau Unibanco in the second quarter valued at $51,526,000. Institutional investors and hedge funds own 5.13% of the company’s stock.

About Itau Unibanco

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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Analyst Recommendations for Itau Unibanco (NYSE:ITUB)

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