Itaú Unibanco (NYSE:ITUB) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Itaú Unibanco (NYSE:ITUB - Free Report) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their target price on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. HSBC upgraded Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 price objective for the company in a research note on Monday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $7.27.

Itaú Unibanco Stock Performance

Shares of NYSE:ITUB traded down $0.06 on Monday, reaching $5.31. 16,170,907 shares of the company's stock were exchanged, compared to its average volume of 24,497,020. The business's 50-day moving average is $5.42 and its two-hundred day moving average is $6.02. 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 has a fifty-two week low of $4.86 and a fifty-two week high of $7.27. The firm has a market capitalization of $51.99 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 0.57 and a beta of 0.95.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.0029 per share. The ex-dividend date is Tuesday, February 4th. This is an increase from Itaú Unibanco's previous dividend of $0.00. Itaú Unibanco's payout ratio is currently 3.85%.

Institutional Trading of Itaú Unibanco

Several large investors have recently added to or reduced their stakes in ITUB. JPMorgan Chase & Co. grew its stake in shares of Itaú Unibanco by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank's stock worth $338,016,000 after purchasing an additional 2,604,304 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Itaú Unibanco by 6.1% in the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank's stock worth $336,408,000 after purchasing an additional 2,886,508 shares during the period. Franklin Resources Inc. grew its position in Itaú Unibanco by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 27,899,587 shares of the bank's stock valued at $174,930,000 after buying an additional 346,390 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Itaú Unibanco by 2.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank's stock valued at $134,606,000 after buying an additional 529,600 shares during the period. Finally, FMR LLC raised its position in shares of Itaú Unibanco by 12,592.2% during the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank's stock worth $156,171,000 after buying an additional 23,299,313 shares in the last quarter.

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.