Itaú Unibanco (NYSE:ITUB) Stock Rating Upgraded by UBS Group

Itaú Unibanco (NYSE:ITUB) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat.com reports.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. HSBC raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price objective on the stock in a research note on Monday, January 13th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. Four research 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, the stock presently has an average rating of “Buy” and a consensus price target of $6.90.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $5.34 on Friday. Itaú Unibanco has a 1 year low of $4.86 and a 1 year high of $7.27. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The company’s 50-day moving average is $5.38 and its 200 day moving average is $6.01. The stock has a market capitalization of $52.29 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.57 and a beta of 0.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Itaú Unibanco by 68.5% in the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after buying an additional 2,469 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Itaú Unibanco in the third quarter worth approximately $68,000. Daymark Wealth Partners LLC bought a new position in shares of Itaú Unibanco in the third quarter worth approximately $68,000. MQS Management LLC bought a new position in shares of Itaú Unibanco in the third quarter worth approximately $70,000. Finally, Raymond James Trust N.A. bought a new position in shares of Itaú Unibanco in the third quarter worth approximately $81,000.

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.