Itau Unibanco Holding SA (NYSE:ITUB) Receives Average Recommendation of “Hold” from Brokerages

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Itau Unibanco Holding SA (NYSE:ITUB) has earned an average rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.50.

ITUB has been the subject of several recent research reports. Morgan Stanley raised Itau Unibanco from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $9.50 to $13.50 in a research report on Wednesday, August 7th. ValuEngine raised Itau Unibanco from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group downgraded Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, November 21st. Citigroup raised Itau Unibanco from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. downgraded Itau Unibanco from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th.

NYSE ITUB traded up $0.25 during mid-day trading on Wednesday, hitting $8.61. The stock had a trading volume of 28,593,500 shares, compared to its average volume of 18,764,898. Itau Unibanco has a 52-week low of $7.59 and a 52-week high of $10.80. The company has a market cap of $79.31 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.19 and a beta of 0.78. The company has a 50 day simple moving average of $8.59 and a 200 day simple moving average of $8.76. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.83.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Monday, November 4th. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Itau Unibanco had a net margin of 14.61% and a return on equity of 18.63%. As a group, equities analysts anticipate that Itau Unibanco will post 0.71 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Monday, January 13th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.004 per share. This represents a $0.05 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, December 2nd. Itau Unibanco’s payout ratio is 5.97%.

Several large investors have recently made changes to their positions in ITUB. First Trust Advisors LP grew its position in shares of Itau Unibanco by 4.9% in the first quarter. First Trust Advisors LP now owns 172,951 shares of the bank’s stock valued at $1,524,000 after purchasing an additional 8,040 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in shares of Itau Unibanco by 24.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 326,500 shares of the bank’s stock valued at $2,877,000 after purchasing an additional 63,300 shares during the period. Cornerstone Advisors Inc. grew its position in shares of Itau Unibanco by 148.0% in the second quarter. Cornerstone Advisors Inc. now owns 13,758 shares of the bank’s stock valued at $130,000 after purchasing an additional 8,211 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Itau Unibanco by 75.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 35,000 shares of the bank’s stock valued at $330,000 after purchasing an additional 15,000 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Itau Unibanco by 1.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 3,020,894 shares of the bank’s stock valued at $28,457,000 after purchasing an additional 50,932 shares during the period. 5.29% of the stock is owned by institutional investors and hedge funds.

About Itau Unibanco

Ita├║ Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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Analyst Recommendations for Itau Unibanco (NYSE:ITUB)

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