Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Wednesday, AmericanBankingNews.com reports. They currently have a $15.50 target price on the stock. Zacks‘ target price suggests a potential upside of 5.73% from the stock’s previous close.
Zacks‘ analyst wrote, “Itau Unibanco’s recurring earnings in third-quarter 2013 were up sequentially. Moreover, higher operating revenues reflected elevated banking service fees, income from banking charges, and a rise in the managerial financial margin. However, non-interest expenses increased, reflecting undisciplined expense management. We believe the company’s diversified product mix, increasing operating revenues and expanded credit portfolio are encouraging. Additionally, improving asset quality remains a positive catalyst for Itau Unibanco. However, increasing competition, elevated expenses and stressed conditions in the Brazilian economy pose risks. “
Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB) traded down 0.44% on Wednesday, hitting $14.595. 4,973,565 shares of the company’s stock traded hands. Itau Unibanco Holding Sociedade Anonima has a 52 week low of $11.38 and a 52 week high of $17.3364. The stock’s 50-day moving average is $14.77 and its 200-day moving average is $13.92. The company has a market cap of $72.499 billion and a P/E ratio of 11.04.
The company also recently announced a monthly dividend, which is scheduled for Thursday, December 12th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.01 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, November 1st.
ItaÃº Unibanco Holding SA, formerly ItaÃº Unibanco Banco MÃºltiplo SA is a bank in Brazil. The Company’s principal categories of operations are banking, which includes commercial bank through ItaÃº Unibanco and corporate and investment banking through Banco ItaÃº BBA SA (NASDAQ:ITUB), consumer credit to non accounts holders and its corporate and treasure activities.
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