Citigroup downgraded shares of Itau Unibanco (NYSE:ITUB) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat Ratings reports.

Several other equities research analysts have also recently issued reports on ITUB. ValuEngine upgraded Itau Unibanco from a sell rating to a hold rating in a report on Wednesday, July 18th. Zacks Investment Research cut Itau Unibanco from a hold rating to a sell rating in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Itau Unibanco has a consensus rating of Hold and a consensus target price of $16.50.

ITUB stock traded up $0.27 during trading on Thursday, hitting $13.25. The stock had a trading volume of 16,137,149 shares, compared to its average volume of 20,200,876. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.67. Itau Unibanco has a twelve month low of $9.85 and a twelve month high of $16.98. The stock has a market cap of $86.29 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.24 and a beta of 1.66.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, July 31st. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.02). Itau Unibanco had a return on equity of 16.99% and a net margin of 17.08%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $8.05 billion. As a group, equities analysts forecast that Itau Unibanco will post 1.07 EPS for the current fiscal year.

The firm also recently announced a special dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 2nd will be paid a $0.0039 dividend. This represents a yield of 0.36%. The ex-dividend date is Thursday, November 1st. Itau Unibanco’s dividend payout ratio (DPR) is 3.51%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAM Holding AG purchased a new position in Itau Unibanco in the 2nd quarter worth approximately $1,340,000. Natixis lifted its stake in Itau Unibanco by 8.3% in the 2nd quarter. Natixis now owns 1,337,923 shares of the bank’s stock worth $13,882,000 after purchasing an additional 102,102 shares in the last quarter. Glen Point Capital LLP purchased a new position in Itau Unibanco in the 2nd quarter worth approximately $2,024,000. BNP Paribas Arbitrage SA lifted its stake in Itau Unibanco by 125.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 787,100 shares of the bank’s stock worth $8,170,000 after purchasing an additional 437,792 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Itau Unibanco by 139.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 464,927 shares of the bank’s stock worth $4,828,000 after purchasing an additional 270,931 shares in the last quarter. 5.43% of the stock is currently owned by institutional investors and hedge funds.

About Itau Unibanco

Ita├║ Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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