Itau Unibanco (NYSE:ITUB) Price Target Raised to $9.00 at JPMorgan Chase & Co.

Itau Unibanco (NYSE:ITUB) had its price objective lifted by JPMorgan Chase & Co. from $8.00 to $9.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Several other analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday, December 29th. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.00.

Itau Unibanco Trading Up 0.2%

Shares of ITUB stock opened at $9.19 on Wednesday. The company has a market capitalization of $101.74 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.02 and a beta of 0.62. The company has a current ratio of 1.79, a quick ratio of 1.58 and a debt-to-equity ratio of 2.61. The firm has a 50-day moving average price of $7.89 and a 200 day moving average price of $7.30. Itau Unibanco has a twelve month low of $4.73 and a twelve month high of $9.60.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%. Research analysts forecast that Itau Unibanco will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, December 2nd will be issued a $0.0032 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a c) dividend on an annualized basis and a yield of 0.4%. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.29%.

Institutional Trading of Itau Unibanco

Institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in Itau Unibanco during the fourth quarter valued at approximately $31,000. MAI Capital Management purchased a new position in shares of Itau Unibanco in the 2nd quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after acquiring an additional 5,355 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after purchasing an additional 1,901 shares during the period. Finally, Community Bank N.A. acquired a new stake in Itau Unibanco in the 3rd quarter valued at $57,000.

About Itau Unibanco

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.