Analysts Set Itau Unibanco Holding S.A. (NYSE:ITUB) Price Target at $7.09

Itau Unibanco Holding S.A. (NYSE:ITUB) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.0909.

ITUB has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Itau Unibanco from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Zacks Research downgraded Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITUB. Coldstream Capital Management Inc. lifted its stake in shares of Itau Unibanco by 84.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 25,879 shares of the bank’s stock valued at $190,000 after purchasing an additional 11,834 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Itau Unibanco by 486.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after acquiring an additional 7,436 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of Itau Unibanco during the third quarter worth about $113,000. Voloridge Investment Management LLC increased its position in shares of Itau Unibanco by 16.2% during the third quarter. Voloridge Investment Management LLC now owns 12,598,545 shares of the bank’s stock worth $92,473,000 after acquiring an additional 1,753,068 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in shares of Itau Unibanco in the third quarter worth about $158,000.

Itau Unibanco Price Performance

Shares of ITUB opened at $7.30 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58. Itau Unibanco has a 1-year low of $4.42 and a 1-year high of $8.13. The firm has a fifty day moving average price of $7.43 and a 200 day moving average price of $7.02. The stock has a market cap of $78.45 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.67.

Itau Unibanco’s stock is set to split on Monday, December 29th. The 103-100 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Sunday, December 28th.

Itau Unibanco Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.0033 per share. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, June 2nd. Itau Unibanco’s dividend payout ratio is presently 504.17%.

About Itau Unibanco

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.