J P Morgan Chase & Co downgraded shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) from an overweight rating to a neutral rating in a report released on Wednesday morning, Marketbeat reports. J P Morgan Chase & Co currently has $12.50 target price on the bank’s stock.

Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Itau Unibanco Banco Holding SA from a buy rating to a strong-buy rating in a research note on Friday, May 19th. Zacks Investment Research lowered shares of Itau Unibanco Banco Holding SA from a buy rating to a hold rating in a research note on Tuesday, May 9th. Finally, Scotiabank upgraded shares of Itau Unibanco Banco Holding SA from an underperform rating to a sector perform rating in a research note on Tuesday, April 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $13.25.

Shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) traded down 0.85% on Wednesday, hitting $11.64. 10,387,483 shares of the stock were exchanged. Itau Unibanco Banco Holding SA has a 12 month low of $9.10 and a 12 month high of $13.65. The company has a market cap of $75.95 billion, a PE ratio of 10.73 and a beta of 1.61. The company has a 50-day moving average price of $11.10 and a 200 day moving average price of $11.68.

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The company also recently disclosed a monthly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 3rd will be paid a dividend of $0.0047 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.06 dividend on an annualized basis and a yield of 0.48%. Itau Unibanco Banco Holding SA’s dividend payout ratio is currently 4.66%.

A number of hedge funds have recently added to or reduced their stakes in ITUB. Harding Loevner LP raised its stake in Itau Unibanco Banco Holding SA by 1.1% in the first quarter. Harding Loevner LP now owns 57,460,819 shares of the bank’s stock worth $693,553,000 after buying an additional 620,165 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Itau Unibanco Banco Holding SA by 6.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,451,930 shares of the bank’s stock worth $35,486,000 after buying an additional 203,428 shares in the last quarter. M&T Bank Corp purchased a new stake in Itau Unibanco Banco Holding SA during the first quarter worth $248,000. Federated Investors Inc. PA raised its stake in Itau Unibanco Banco Holding SA by 54.6% in the fourth quarter. Federated Investors Inc. PA now owns 26,704 shares of the bank’s stock worth $275,000 after buying an additional 9,427 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in Itau Unibanco Banco Holding SA by 10.0% in the fourth quarter. Janus Capital Management LLC now owns 308,428 shares of the bank’s stock worth $3,171,000 after buying an additional 28,038 shares in the last quarter. Institutional investors and hedge funds own 5.52% of the company’s stock.

About Itau Unibanco Banco Holding SA

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

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