Itaú Unibanco (NYSE:ITUB) Hits New 52-Week Low - Time to Sell?

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $5.34 and last traded at $5.34, with a volume of 222797 shares changing hands. The stock had previously closed at $5.74.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ITUB. JPMorgan Chase & Co. dropped their price target on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. UBS Group cut Itaú Unibanco from a "buy" rating to a "neutral" rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.50.

Itaú Unibanco Stock Down 6.6 %

The firm has a market capitalization of $52.53 billion, a PE ratio of 6.87, a P/E/G ratio of 0.75 and a beta of 0.98. The stock has a 50-day simple moving average of $6.19 and a 200-day simple moving average of $6.23. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco's dividend payout ratio is currently 3.85%.

Institutional Trading of Itaú Unibanco

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in Itaú Unibanco by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank's stock worth $174,930,000 after purchasing an additional 346,390 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Itaú Unibanco by 43.5% in the third quarter. Sanctuary Advisors LLC now owns 178,697 shares of the bank's stock worth $1,188,000 after buying an additional 54,172 shares during the period. Coldstream Capital Management Inc. increased its position in Itaú Unibanco by 16.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank's stock valued at $103,000 after purchasing an additional 2,250 shares during the period. Public Employees Retirement System of Ohio bought a new position in Itaú Unibanco in the third quarter worth about $40,685,000. Finally, MML Investors Services LLC raised its holdings in Itaú Unibanco by 23.3% in the third quarter. MML Investors Services LLC now owns 24,959 shares of the bank's stock worth $166,000 after purchasing an additional 4,720 shares in 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.