Itaú Unibanco (NYSE:ITUB - Get Free Report) was upgraded by investment analysts at HSBC from a "hold" rating to a "buy" rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $6.80 target price on the bank's stock. HSBC's price target would suggest a potential upside of 34.12% from the stock's current price.
Separately, JPMorgan Chase & Co. decreased their price target on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $7.27.
Get Our Latest Stock Report on ITUB
Itaú Unibanco Stock Performance
Shares of NYSE ITUB traded up $0.03 during midday trading on Monday, hitting $5.07. 16,414,798 shares of the company's stock traded hands, compared to its average volume of 24,493,713. The firm has a fifty day moving average of $5.46 and a 200 day moving average of $6.03. Itaú Unibanco has a 1 year low of $4.86 and a 1 year high of $7.27. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $49.69 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.
Institutional Trading of Itaú Unibanco
Several institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after buying an additional 2,469 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Itaú Unibanco during the third quarter worth about $68,000. Daymark Wealth Partners LLC bought a new stake in Itaú Unibanco during the 3rd quarter valued at approximately $68,000. MQS Management LLC bought a new position in Itaú Unibanco in the 3rd quarter worth approximately $70,000. Finally, Raymond James Trust N.A. purchased a new stake in Itaú Unibanco during the 3rd quarter valued at approximately $81,000.
About Itaú Unibanco
(
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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.
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