Itaú Unibanco (NYSE:ITUB) Raised to Buy at UBS Group

Itaú Unibanco (NYSE:ITUB - Get Free Report) was upgraded by analysts at UBS Group from a "neutral" rating to a "buy" rating in a report issued on Friday, MarketBeat.com reports.

Several other brokerages have also recently commented on ITUB. HSBC upgraded Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 price target for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Finally, Hsbc Global Res upgraded shares of Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Itaú Unibanco presently has an average rating of "Buy" and an average target price of $6.90.

Itaú Unibanco Price Performance

NYSE:ITUB traded up $0.03 during trading hours on Friday, hitting $5.34. 20,805,894 shares of the stock were exchanged, compared to its average volume of 25,216,058. The firm's fifty day moving average price is $5.38 and its 200 day moving average price is $6.01. Itaú Unibanco has a 52-week low of $4.86 and a 52-week high of $7.27. The company has a market cap of $52.29 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.57 and a beta of 0.95. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after purchasing an additional 2,469 shares during the period. Daymark Wealth Partners LLC purchased a new stake in shares of Itaú Unibanco during the 3rd quarter valued at approximately $68,000. Quantinno Capital Management LP acquired a new position in Itaú Unibanco in the third quarter valued at approximately $68,000. MQS Management LLC purchased a new position in Itaú Unibanco in the third quarter worth approximately $70,000. Finally, Raymond James Trust N.A. acquired a new stake in Itaú Unibanco during the third quarter worth $81,000.

About Itaú Unibanco

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.