Itaú Unibanco (NYSE:ITUB) Upgraded by Hsbc Global Res to “Strong-Buy” Rating

Hsbc Global Res upgraded shares of Itaú Unibanco (NYSE:ITUB) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other research firms also recently commented on ITUB. HSBC upgraded 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. 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 research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Itaú Unibanco has an average rating of “Buy” and an average target price of $7.27.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $5.33 on Monday. Itaú Unibanco has a twelve month low of $4.86 and a twelve month high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The stock’s 50 day moving average price is $5.44 and its 200-day moving average price is $6.02. The company has a market capitalization of $52.24 billion, a PE ratio of 6.83, a PEG ratio of 0.57 and a beta of 0.95.

Itaú Unibanco Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.0029 per share. 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 is currently 3.85%.

Institutional Investors Weigh In On Itaú Unibanco

Several institutional investors have recently made changes to their positions in ITUB. American Century Companies Inc. lifted its position in shares of Itaú Unibanco by 5.2% during the second quarter. American Century Companies Inc. now owns 3,390,965 shares of the bank’s stock worth $19,803,000 after acquiring an additional 166,626 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Itaú Unibanco by 15.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,172,345 shares of the bank’s stock worth $6,846,000 after purchasing an additional 153,991 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Itaú Unibanco by 33.4% in the second quarter. Dimensional Fund Advisors LP now owns 228,293 shares of the bank’s stock worth $1,333,000 after purchasing an additional 57,188 shares during the period. Blair William & Co. IL increased its stake in Itaú Unibanco by 56.3% in the second quarter. Blair William & Co. IL now owns 41,367 shares of the bank’s stock valued at $242,000 after acquiring an additional 14,893 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Itaú Unibanco by 9.2% in the second quarter. Hsbc Holdings PLC now owns 2,219,210 shares of the bank’s stock valued at $12,941,000 after acquiring an additional 186,594 shares during 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.