Itaú Unibanco (NYSE:ITUB) Stock Rating Upgraded by HSBC

HSBC upgraded shares of Itaú Unibanco (NYSE:ITUB) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have $6.80 price objective on the bank’s stock.

Separately, JPMorgan Chase & Co. cut their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Itaú Unibanco presently has a consensus rating of “Moderate Buy” and an average price target of $7.27.

Itaú Unibanco Trading Up 0.6 %

Itaú Unibanco stock opened at $5.07 on Monday. Itaú Unibanco has a 52 week low of $4.86 and a 52 week high of $7.27. The stock has a market capitalization of $49.69 billion, a P/E ratio of 6.50, a PEG ratio of 0.68 and a beta of 0.95. The stock has a 50-day simple moving average of $5.46 and a 200 day simple moving average of $6.03. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 4th will be paid a $0.0029 dividend. This is a boost from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date is Tuesday, February 4th. Itaú Unibanco’s payout ratio is currently 2.56%.

Institutional Trading of Itaú Unibanco

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Itaú Unibanco by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock worth $338,016,000 after acquiring an additional 2,604,304 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Itaú Unibanco by 6.1% during the 3rd quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock valued at $336,408,000 after purchasing an additional 2,886,508 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Itaú Unibanco by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock valued at $174,930,000 after purchasing an additional 346,390 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in Itaú Unibanco by 2.3% in the second quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock worth $134,606,000 after acquiring an additional 529,600 shares in the last quarter. Finally, FMR LLC grew its position in Itaú Unibanco by 12,592.2% in the third quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock worth $156,171,000 after acquiring an additional 23,299,313 shares in the last quarter.

About Itaú Unibanco

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.