Itau Unibanco (NYSE:ITUB) Hits New 12-Month High – Here’s What Happened

Itau Unibanco Holding S.A. (NYSE:ITUB) shares hit a new 52-week high during trading on Friday . The stock traded as high as $7.86 and last traded at $7.8250, with a volume of 754009 shares traded. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

ITUB has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Itau Unibanco in a report on Wednesday, November 19th. Zacks Research cut shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Itau Unibanco from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.09.

Itau Unibanco Stock Performance

The firm has a fifty day moving average price of $7.29 and a 200 day moving average price of $6.92. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The firm has a market cap of $84.05 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.10 and a beta of 0.85.

Hedge Funds Weigh In On Itau Unibanco

Several institutional investors and hedge funds have recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its holdings in shares of Itau Unibanco by 84.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 25,879 shares of the bank’s stock worth $190,000 after buying an additional 11,834 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after acquiring an additional 7,436 shares during the last quarter. PharVision Advisers LLC purchased a new position in Itau Unibanco in the third quarter worth approximately $113,000. Voloridge Investment Management LLC increased its stake in Itau Unibanco by 16.2% during the third quarter. Voloridge Investment Management LLC now owns 12,598,545 shares of the bank’s stock worth $92,473,000 after acquiring an additional 1,753,068 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in Itau Unibanco during the third quarter worth $158,000.

Itau 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.