Itau Unibanco (ITUB) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Itau Unibanco (NYSE:ITUB) from a buy rating to a strong-buy rating in a report issued on Sunday morning.

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Itau Unibanco from a strong-buy rating to a buy rating in a research note on Monday, October 23rd. Deutsche Bank raised shares of Itau Unibanco from a hold rating to a buy rating and set a $16.00 target price on the stock in a research report on Monday, December 11th. Finally, Zacks Investment Research cut shares of Itau Unibanco from a hold rating to a sell rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $14.25.

Itau Unibanco (NYSE:ITUB) traded up $0.53 during mid-day trading on Friday, reaching $13.53. The company’s stock had a trading volume of 6,043,500 shares, compared to its average volume of 6,880,650. The firm has a market cap of $83,080.00, a P/E ratio of 11.87, a P/E/G ratio of 1.45 and a beta of 1.59. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.66 and a quick ratio of 1.66. Itau Unibanco has a fifty-two week low of $10.02 and a fifty-two week high of $14.59.

Itau Unibanco declared that its board has approved a stock buyback program on Monday, December 18th that permits the company to buyback 28,620,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a None dividend, which will be paid on Monday, February 12th. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.004 per share. The ex-dividend date is Tuesday, January 2nd. This represents a dividend yield of 0.42%. Itau Unibanco’s dividend payout ratio is currently 40.35%.

Several institutional investors have recently bought and sold shares of ITUB. YorkBridge Wealth Partners LLC raised its holdings in shares of Itau Unibanco by 3.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 13,027 shares of the bank’s stock worth $146,000 after purchasing an additional 484 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Itau Unibanco by 5.7% in the 2nd quarter. Sterling Capital Management LLC now owns 14,706 shares of the bank’s stock worth $163,000 after purchasing an additional 792 shares during the period. Mariner Wealth Advisors LLC raised its holdings in shares of Itau Unibanco by 10.5% in the 2nd quarter. Mariner Wealth Advisors LLC now owns 22,746 shares of the bank’s stock worth $251,000 after purchasing an additional 2,159 shares during the period. Comerica Bank raised its holdings in shares of Itau Unibanco by 2.0% in the 3rd quarter. Comerica Bank now owns 218,760 shares of the bank’s stock worth $2,872,000 after purchasing an additional 4,202 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Itau Unibanco by 3.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 171,961 shares of the bank’s stock worth $2,356,000 after purchasing an additional 4,935 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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