UBS Group Upgrades Itaú Unibanco (NYSE:ITUB) to “Buy”

Itaú Unibanco (NYSE:ITUB) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports.

A number of other research analysts also recently weighed in on the stock. HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price objective on the stock 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 report on Thursday, November 7th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.90.

Itaú Unibanco Stock Up 0.5 %

Shares of Itaú Unibanco stock opened at $5.34 on Friday. The company has a market cap of $52.29 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 0.57 and a beta of 0.95. The company’s 50 day moving average is $5.38 and its 200 day moving average is $6.01. Itaú Unibanco has a twelve month low of $4.86 and a twelve month high of $7.27. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28.

Institutional Trading of Itaú Unibanco

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of Itaú Unibanco by 68.5% in 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 in the last quarter. Daymark Wealth Partners LLC purchased a new stake in shares of Itaú Unibanco in the third quarter worth $68,000. Quantinno Capital Management LP purchased a new stake in shares of Itaú Unibanco in the third quarter worth $68,000. MQS Management LLC purchased a new stake in shares of Itaú Unibanco in the third quarter worth $70,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Itaú Unibanco in the third quarter worth $81,000.

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.