Itaú Unibanco (NYSE:ITUB) Upgraded at HSBC

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

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

Itaú Unibanco Trading Up 5.3 %

Shares of ITUB stock opened at $5.37 on Monday. The stock has a market capitalization of $52.63 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.68 and a beta of 0.95. The company’s fifty day simple moving average is $5.44 and its two-hundred day simple moving average is $6.02. 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.

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 given a $0.0029 dividend. The ex-dividend date is Tuesday, February 4th. This is an increase from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s dividend payout ratio (DPR) is 2.56%.

Institutional Investors Weigh In On Itaú Unibanco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northcape Capital Pty Ltd lifted its stake in Itaú Unibanco by 7.1% during the fourth quarter. Northcape Capital Pty Ltd now owns 9,765,549 shares of the bank’s stock worth $48,437,000 after purchasing an additional 643,532 shares during the last quarter. JPMorgan Chase & Co. lifted its position in 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 buying an additional 2,604,304 shares during the last quarter. Franklin Resources Inc. boosted its stake in Itaú Unibanco by 1.3% in the third quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank’s stock worth $174,930,000 after buying an additional 346,390 shares in the last quarter. Sanctuary Advisors LLC grew its position in Itaú Unibanco by 43.5% during the third quarter. Sanctuary Advisors LLC now owns 178,697 shares of the bank’s stock valued at $1,188,000 after acquiring an additional 54,172 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Itaú Unibanco by 16.9% during the third quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock worth $103,000 after acquiring an additional 2,250 shares in the last quarter.

Itaú Unibanco Company Profile

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.