Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Thursday, Stock Ratings Network reports. They currently have a $13.00 target price on the stock. Zacks‘ price target indicates a potential upside of 6.21% from the stock’s previous close.
Zacks‘ analyst wrote, “Itau Unibanco’s recurring earnings in second-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 and expanded credit portfolio are encouraging. Additionally, we believe that improving asset quality remains a positive catalyst. However, increasing competition and elevated expenses pose risks. Hence, we are maintaining our Neutral recommendation on the shares.”
Shares of Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB) traded up 3.88% during mid-day trading on Thursday, hitting $12.715. Itau Unibanco Holding Sociedade Anonima has a one year low of $11.38 and a one year high of $17.3364. The stock’s 50-day moving average is currently $12.58. The company has a market cap of $63.160 billion and a P/E ratio of 9.22.
The company also recently announced a special dividend, which is scheduled for Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.12 per share. This represents a dividend yield of 0.64%. The ex-dividend date is Wednesday, August 7th.
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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