Itaú Unibanco (NYSE:ITUB) Reaches New 1-Year Low – What’s Next?

Itaú Unibanco Holding S.A. (NYSE:ITUB)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $5.34 and last traded at $5.34, with a volume of 222797 shares. The stock had previously closed at $5.74.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Trading Down 6.6 %

The stock has a 50 day moving average of $6.19 and a 200 day moving average of $6.23. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $52.53 billion, a P/E ratio of 6.87, a PEG ratio of 0.75 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is 3.85%.

Institutional Trading of Itaú Unibanco

Several hedge funds and other institutional investors have recently bought and sold shares of ITUB. Fisher Asset Management LLC boosted its position in Itaú Unibanco by 6.1% during the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock valued at $336,408,000 after buying an additional 2,886,508 shares during the period. William Blair Investment Management LLC boosted its holdings in Itaú Unibanco by 14.8% during the 2nd quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock valued at $221,505,000 after acquiring an additional 4,888,099 shares during the period. Franklin Resources Inc. grew its position in Itaú Unibanco by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock worth $174,930,000 after acquiring an additional 346,390 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake 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 worth $134,606,000 after purchasing an additional 529,600 shares during the period. Finally, FMR LLC lifted its position in Itaú Unibanco by 12,592.2% in the third quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after purchasing an additional 23,299,313 shares during 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.