Itau Unibanco (NYSE:ITUB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Itau Unibanco (NYSE:ITUB) to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts have also commented on ITUB. Weiss Ratings raised Itau Unibanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $10.50 price objective (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. HSBC downgraded Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price objective for the company. in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.87.

Itau Unibanco Trading Up 0.1%

NYSE ITUB opened at $9.45 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.44. Itau Unibanco has a twelve month low of $6.80 and a twelve month high of $10.20. The company has a market cap of $104.62 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.17 and a beta of 0.50. The business’s fifty day moving average is $8.34 and its 200 day moving average is $8.30.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. As a group, sell-side analysts expect that Itau Unibanco will post 0.88 EPS for the current fiscal year.

Insider Activity at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total value of $625,508.34. Following the sale, the insider owned 933,371 shares in the company, valued at approximately $7,821,648.98. The trade was a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Itau Unibanco

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Strategic Management Inc. acquired a new position in Itau Unibanco in the third quarter valued at $449,000. Euro Pacific Asset Management LLC boosted its position in Itau Unibanco by 0.4% during the third quarter. Euro Pacific Asset Management LLC now owns 426,002 shares of the bank’s stock valued at $3,634,000 after acquiring an additional 1,516 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Itau Unibanco by 1.2% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 101,400 shares of the bank’s stock worth $865,000 after acquiring an additional 1,227 shares during the period. GAMMA Investing LLC grew its holdings in Itau Unibanco by 8.6% during the 3rd quarter. GAMMA Investing LLC now owns 13,069 shares of the bank’s stock worth $111,000 after acquiring an additional 1,031 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Itau Unibanco by 39.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 12,892 shares of the bank’s stock worth $110,000 after acquiring an additional 3,661 shares during the period.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.