Itaú Unibanco (NYSE:ITUB) Rating Increased to Buy at UBS Group

Itaú Unibanco (NYSE:ITUB) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday,Finviz reports.

ITUB has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price objective on the stock in a report on Monday. Finally, Hsbc Global Res upgraded shares of Itaú Unibanco to a “strong-buy” rating in a research note on Monday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Itaú Unibanco has an average rating of “Buy” and a consensus target price of $6.90.

Itaú Unibanco Trading Down 1.0 %

Itaú Unibanco stock opened at $5.31 on Friday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50-day simple moving average of $5.42 and a 200 day simple moving average of $6.02. The stock has a market capitalization of $51.99 billion, a P/E ratio of 6.80, a PEG ratio of 0.57 and a beta of 0.95. Itaú Unibanco has a 52 week low of $4.86 and a 52 week high of $7.27.

Hedge Funds Weigh In On Itaú Unibanco

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in Itaú Unibanco by 12,592.2% in the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock valued at $156,171,000 after purchasing an additional 23,299,313 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Itaú Unibanco in the third quarter valued at approximately $40,685,000. Marshall Wace LLP raised its position in shares of Itaú Unibanco by 200.4% in the second quarter. Marshall Wace LLP now owns 7,679,311 shares of the bank’s stock valued at $44,847,000 after buying an additional 5,122,752 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Itaú Unibanco by 77.5% in the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after buying an additional 3,106,130 shares during the period. Finally, Fisher Asset Management LLC grew its position in Itaú Unibanco by 6.1% during the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after buying an additional 2,886,508 shares in the last quarter.

Itaú 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.