Itaú Unibanco (NYSE:ITUB) Upgraded at UBS Group

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

Several other equities analysts have also recently issued reports on the company. Hsbc Global Res raised Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, 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 report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Itaú Unibanco currently has a consensus rating of “Buy” and a consensus price target of $6.90.

Itaú Unibanco Stock Performance

Shares of ITUB opened at $5.34 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco has a 52-week low of $4.86 and a 52-week high of $7.27. The company has a 50-day simple moving average of $5.38 and a 200-day simple moving average of $6.01. The company has a market capitalization of $52.29 billion, a PE ratio of 6.84, a P/E/G ratio of 0.57 and a beta of 0.95.

Itaú Unibanco Increases Dividend

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

Hedge Funds Weigh In On Itaú Unibanco

Several institutional investors and hedge funds have recently bought and sold shares of ITUB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Itaú Unibanco in the third quarter valued at about $1,215,000. State Street Corp boosted its holdings in Itaú Unibanco by 7.4% in the 3rd quarter. State Street Corp now owns 12,522,486 shares of the bank’s stock worth $83,899,000 after acquiring an additional 861,500 shares during the period. Driehaus Capital Management LLC grew its position in Itaú Unibanco by 77.5% in the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after acquiring an additional 3,106,130 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Itaú Unibanco by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock valued at $338,016,000 after purchasing an additional 2,604,304 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Itaú Unibanco by 23.2% during the third quarter. HighTower Advisors LLC now owns 25,586 shares of the bank’s stock worth $169,000 after purchasing an additional 4,823 shares in the last quarter.

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.