JPMorgan Chase & Co. Lowers Itaú Unibanco (NYSE:ITUB) Price Target to $7.00

Itaú Unibanco (NYSE:ITUB - Get Free Report) had its price target lowered by analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the bank's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 11.46% from the stock's previous close.

Separately, UBS Group lowered Itaú Unibanco from a "buy" rating to a "neutral" rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.50.

Itaú Unibanco Stock Down 1.3 %

ITUB stock traded down $0.08 during trading on Thursday, reaching $6.28. 15,423,005 shares of the stock were exchanged, compared to its average volume of 18,160,053. The firm has a market cap of $61.55 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. Itaú Unibanco has a twelve month low of $5.62 and a twelve month high of $7.27. The firm's 50 day moving average is $6.43 and its 200 day moving average is $6.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, research analysts forecast that Itaú Unibanco will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Itaú Unibanco

Several institutional investors and hedge funds have recently bought and sold shares of ITUB. William Blair Investment Management LLC raised its position in Itaú Unibanco by 14.8% during the second quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank's stock valued at $221,505,000 after purchasing an additional 4,888,099 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Itaú Unibanco by 2.3% in the second quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank's stock worth $134,606,000 after buying an additional 529,600 shares during the period. Capital Research Global Investors increased its holdings in shares of Itaú Unibanco by 460.6% in the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank's stock worth $105,766,000 after buying an additional 12,539,737 shares during the period. Perpetual Ltd grew its stake in shares of Itaú Unibanco by 9.0% in the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank's stock worth $90,638,000 after purchasing an additional 1,126,695 shares during the last quarter. Finally, Northcape Capital Pty Ltd grew its stake in shares of Itaú Unibanco by 5.7% in the second quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank's stock worth $55,856,000 after purchasing an additional 519,529 shares during 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.

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