Morgan Stanley Downgrades Itaú Unibanco (NYSE:ITUB) to Equal Weight

Itaú Unibanco (NYSE:ITUB – Get Rating) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Friday, The Fly reports.

Itaú Unibanco Stock Down 1.7 %

ITUB stock opened at $5.34 on Friday. Itaú Unibanco has a fifty-two week low of $3.90 and a fifty-two week high of $6.07. The business’s 50 day moving average price is $4.94 and its two-hundred day moving average price is $4.92. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $52.33 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 0.63 and a beta of 0.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ITUB. Eagle Bay Advisors LLC purchased a new stake in shares of Itaú Unibanco in the 2nd quarter worth approximately $30,000. Natixis purchased a new stake in shares of Itaú Unibanco in the 4th quarter worth approximately $38,000. Huntington National Bank grew its stake in shares of Itaú Unibanco by 33.4% in the 3rd quarter. Huntington National Bank now owns 8,353 shares of the bank’s stock worth $43,000 after buying an additional 2,093 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Itaú Unibanco in the 4th quarter worth approximately $40,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Itaú Unibanco in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 2.25% of the company’s stock.

Itaú Unibanco Company Profile

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Itaú Unibanco Holding SA provides financial products and services to individual and corporate clients in Brazil and abroad. It operates through the following segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. The Retail Banking segment includes credit cards, asset management, insurance, pension plan and capitalization products, and a variety of credit products and services for individuals and small companies.