Itau Unibanco (ITUB) Upgraded at HSBC

Itau Unibanco (NYSE:ITUB) was upgraded by equities research analysts at HSBC from a “reduce” rating to a “hold” rating in a report issued on Friday, The Fly reports.

Several other research firms have also recently commented on ITUB. Zacks Investment Research cut Itau Unibanco from a “buy” rating to a “sell” rating in a research note on Monday, April 15th. ValuEngine cut Itau Unibanco from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 27th. Scotiabank raised Itau Unibanco from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 26th. Finally, Bank of America cut Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 5th. Seven research analysts have rated the stock with a hold rating, Itau Unibanco presently has an average rating of “Hold” and a consensus price target of $12.00.

NYSE ITUB traded down $0.04 during trading hours on Friday, hitting $7.75. 5,734,490 shares of the company’s stock were exchanged, compared to its average volume of 15,603,150. Itau Unibanco has a 1-year low of $6.57 and a 1-year high of $10.80. The stock has a market capitalization of $77.03 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.09 and a beta of 1.00. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.33 and a quick ratio of 1.33.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC lifted its stake in Itau Unibanco by 114.1% in the fourth quarter. FMR LLC now owns 49,177,519 shares of the bank’s stock worth $449,482,000 after purchasing an additional 26,205,101 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Itau Unibanco by 66.8% during the fourth quarter. Fisher Asset Management LLC now owns 44,341,615 shares of the bank’s stock worth $405,282,000 after acquiring an additional 17,763,695 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Itau Unibanco by 57.4% during the fourth quarter. Baillie Gifford & Co. now owns 44,377,465 shares of the bank’s stock worth $405,610,000 after acquiring an additional 16,191,708 shares during the last quarter. BlackRock Inc. grew its position in shares of Itau Unibanco by 30.3% during the first quarter. BlackRock Inc. now owns 55,658,076 shares of the bank’s stock worth $490,347,000 after acquiring an additional 12,952,059 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Itau Unibanco by 188.5% during the fourth quarter. Bank of America Corp DE now owns 18,616,312 shares of the bank’s stock worth $170,153,000 after acquiring an additional 12,163,927 shares during the last quarter. 4.77% of the stock is owned by hedge funds and other institutional investors.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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Analyst Recommendations for Itau Unibanco (NYSE:ITUB)

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