Itaú Unibanco (NYSE:ITUB) Rating Increased to Buy at HSBC

HSBC upgraded shares of Itaú Unibanco (NYSE:ITUB) from a hold rating to a buy rating in a report published on Monday morning, Marketbeat.com reports. They currently have $6.80 price objective on the bank’s stock.

Separately, JPMorgan Chase & Co. dropped their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Itaú Unibanco has an average rating of “Moderate Buy” and a consensus target price of $7.27.

Itaú Unibanco Stock Up 5.3 %

Shares of NYSE ITUB opened at $5.37 on Monday. The firm’s fifty day moving average is $5.44 and its 200 day moving average is $6.02. Itaú Unibanco has a 52 week low of $4.86 and a 52 week high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a market cap of $52.63 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.68 and a beta of 0.95.

Itaú Unibanco Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 4th will be paid a $0.0029 dividend. This is an increase 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 is presently 2.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ITUB. Coldstream Capital Management Inc. raised its holdings in Itaú Unibanco by 16.9% in the third quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock worth $103,000 after purchasing an additional 2,250 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after acquiring an additional 2,469 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Itaú Unibanco by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank’s stock valued at $382,000 after acquiring an additional 2,500 shares during the period. Creative Planning boosted its stake in Itaú Unibanco by 33.5% during the third quarter. Creative Planning now owns 14,941 shares of the bank’s stock worth $99,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Blueshift Asset Management LLC grew its holdings in Itaú Unibanco by 11.6% in the third quarter. Blueshift Asset Management LLC now owns 41,990 shares of the bank’s stock worth $279,000 after purchasing an additional 4,379 shares during the period.

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.