Itaú Unibanco (NYSE:ITUB) Stock Rating Upgraded by Morgan Stanley

Itaú Unibanco (NYSE:ITUB) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, MarketBeat reports.

Itaú Unibanco Stock Performance

Shares of ITUB stock opened at $5.90 on Monday. The company’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $6.56. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.54 and a quick ratio of 1.54. Itaú Unibanco has a 1 year low of $5.12 and a 1 year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Monday, May 6th. The bank reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. As a group, equities research analysts anticipate that Itaú Unibanco will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITUB. Bruce G. Allen Investments LLC purchased a new stake in Itaú Unibanco during the fourth quarter valued at about $36,000. Sapient Capital LLC purchased a new stake in Itaú Unibanco during the fourth quarter valued at about $186,000. Raymond James & Associates boosted its position in Itaú Unibanco by 7.1% during the fourth quarter. Raymond James & Associates now owns 341,799 shares of the bank’s stock valued at $2,376,000 after buying an additional 22,726 shares during the period. Trexquant Investment LP purchased a new stake in Itaú Unibanco during the third quarter valued at about $3,083,000. Finally, Caprock Group LLC boosted its position in Itaú Unibanco by 25.4% during the fourth quarter. Caprock Group LLC now owns 26,652 shares of the bank’s stock valued at $187,000 after buying an additional 5,401 shares during the period.

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.