Itau Unibanco Holding S.A. (NYSE:ITUB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Itau Unibanco Holding S.A. (NYSE:ITUB) have been given an average rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $7.0909.

ITUB has been the topic of several recent research reports. Zacks Research lowered shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Itau Unibanco from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a report on Monday.

Itau Unibanco Trading Up 0.3%

Shares of ITUB stock opened at $7.13 on Friday. Itau Unibanco has a 12 month low of $4.42 and a 12 month high of $8.13. The company has a market cap of $76.68 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.05 and a beta of 0.67. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.33. The business’s 50 day moving average is $7.39 and its two-hundred day moving average is $7.00.

Itau Unibanco Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Tuesday, June 2nd will be issued a $0.0033 dividend. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 2nd. Itau Unibanco’s payout ratio is presently 526.39%.

Hedge Funds Weigh In On Itau Unibanco

Several institutional investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its position in shares of Itau Unibanco by 84.3% during the third quarter. Coldstream Capital Management Inc. now owns 25,879 shares of the bank’s stock worth $190,000 after acquiring an additional 11,834 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted 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 acquired a new stake in Itau Unibanco in the third quarter worth about $113,000. Voloridge Investment Management LLC raised its holdings in Itau Unibanco by 16.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 12,598,545 shares of the bank’s stock worth $92,473,000 after purchasing an additional 1,753,068 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in Itau Unibanco during the 3rd quarter worth about $158,000.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.