Itau Unibanco Holding SA (ITUB) Receives $12.50 Average Price Target from Brokerages

Shares of Itau Unibanco Holding SA (NYSE:ITUB) have received an average recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $12.50.

A number of research firms have commented on ITUB. ValuEngine cut shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub cut shares of Itau Unibanco from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, Citigroup cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Friday, August 25th.

Itau Unibanco (ITUB) traded up $0.26 during trading hours on Friday, reaching $12.89. 5,254,800 shares of the company’s stock were exchanged, compared to its average volume of 11,198,149. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $82,255.41, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. Itau Unibanco has a 1-year low of $9.10 and a 1-year high of $14.59.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 12th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.005 per share. This is a boost from Itau Unibanco’s previous monthly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, December 1st. Itau Unibanco’s dividend payout ratio (DPR) is currently 4.35%.

Itau Unibanco declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 31st that allows the company to buyback 60,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. Harding Loevner LP raised its position in Itau Unibanco by 225.1% in the third quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock worth $774,895,000 after acquiring an additional 133,670,409 shares during the period. BlackRock Inc. raised its position in Itau Unibanco by 3.8% in the second quarter. BlackRock Inc. now owns 47,252,547 shares of the bank’s stock worth $522,140,000 after acquiring an additional 1,733,626 shares during the period. Capital World Investors raised its position in Itau Unibanco by 1.1% in the second quarter. Capital World Investors now owns 41,357,500 shares of the bank’s stock worth $457,000,000 after acquiring an additional 435,500 shares during the period. Vanguard Group Inc. raised its position in Itau Unibanco by 3.0% in the second quarter. Vanguard Group Inc. now owns 40,256,415 shares of the bank’s stock worth $444,833,000 after acquiring an additional 1,166,338 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Itau Unibanco by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,923,292 shares of the bank’s stock worth $444,464,000 after acquiring an additional 627,005 shares during the period. Hedge funds and other institutional investors own 4.69% of the company’s stock.

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Itau Unibanco Company Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

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