Itaú Unibanco (NYSE:ITUB) Reaches New 52-Week Low - Here's Why

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $4.86 and last traded at $4.88, with a volume of 324177 shares. The stock had previously closed at $4.96.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

Itaú Unibanco Stock Performance

The company has a 50-day moving average price of $5.61 and a two-hundred day moving average price of $6.07. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $48.51 billion, a P/E ratio of 6.35, a PEG ratio of 0.68 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be issued a $0.0025 dividend. The ex-dividend date is Thursday, January 2nd. This represents a dividend yield of 0.6%. Itaú Unibanco's payout ratio is currently 3.85%.

Institutional Trading of Itaú Unibanco

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Itaú Unibanco by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock valued at $338,016,000 after buying an additional 2,604,304 shares in the last quarter. Franklin Resources Inc. raised its position in Itaú Unibanco by 1.3% during the third quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank's stock valued at $174,930,000 after purchasing an additional 346,390 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Itaú Unibanco by 43.5% during the third quarter. Sanctuary Advisors LLC now owns 178,697 shares of the bank's stock worth $1,188,000 after purchasing an additional 54,172 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Itaú Unibanco by 16.9% during the third quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank's stock worth $103,000 after purchasing an additional 2,250 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Itaú Unibanco during the 3rd quarter valued at about $40,685,000.

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.