Itau Unibanco Holding S.A. (NYSE:ITUB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Itau Unibanco Holding S.A. (NYSE:ITUB) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.0909.

ITUB has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Itau Unibanco from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday. Finally, Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd.

Itau Unibanco Trading Up 0.1%

NYSE ITUB opened at $7.28 on Friday. The firm’s fifty day moving average is $7.41 and its two-hundred day moving average is $7.02. Itau Unibanco has a one year low of $4.42 and a one year high of $8.13. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $78.29 billion, a PE ratio of 10.07, a P/E/G ratio of 1.07 and a beta of 0.67.

Itau Unibanco’s stock is set to split before the market opens on Monday, December 29th. The 103-100 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Sunday, December 28th.

Itau Unibanco Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Tuesday, June 2nd will be issued a dividend of $0.0033 per share. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 2nd. Itau Unibanco’s dividend payout ratio is currently 526.39%.

Institutional Investors Weigh In On Itau Unibanco

A number of institutional investors have recently added to or reduced their stakes in ITUB. Farther Finance Advisors LLC raised its stake in shares of Itau Unibanco by 3,590.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after buying an additional 4,201 shares in the last quarter. MAI Capital Management acquired a new position in Itau Unibanco during the second quarter worth $41,000. EverSource Wealth Advisors LLC raised its position in Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after acquiring an additional 5,355 shares in the last quarter. Community Bank N.A. acquired a new stake in Itau Unibanco in the third quarter valued at $57,000. Finally, First Horizon Corp acquired a new stake in Itau Unibanco in the third quarter valued at $60,000.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.