Shares of Itau Unibanco Holding SA (NYSE:ITUB) have received an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.25.
ITUB has been the subject of several recent research reports. Zacks Investment Research lowered Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine lowered Itau Unibanco from a “strong-buy” rating to a “buy” rating in a report on Friday, October 27th. BidaskClub lowered Itau Unibanco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Deutsche Bank raised Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, December 11th.
Shares of Itau Unibanco (NYSE ITUB) opened at $14.78 on Friday. Itau Unibanco has a twelve month low of $10.02 and a twelve month high of $14.79. The firm has a market capitalization of $94,824.91, a PE ratio of 12.85, a P/E/G ratio of 1.62 and a beta of 1.59. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.57.
Itau Unibanco announced that its Board of Directors has authorized a stock repurchase program on Monday, December 18th that permits the company to repurchase 28,620,000 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a monthly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 2nd will be issued a $0.005 dividend. The ex-dividend date is Thursday, February 1st. This represents a $0.06 annualized dividend and a yield of 0.41%. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00. Itau Unibanco’s dividend payout ratio (DPR) is 4.35%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC grew its holdings in Itau Unibanco by 3.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 13,027 shares of the bank’s stock valued at $146,000 after buying an additional 484 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Itau Unibanco by 5.7% during the 2nd quarter. Sterling Capital Management LLC now owns 14,706 shares of the bank’s stock valued at $163,000 after buying an additional 792 shares in the last quarter. Mariner Wealth Advisors LLC grew its holdings in Itau Unibanco by 10.5% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 22,746 shares of the bank’s stock valued at $251,000 after buying an additional 2,159 shares in the last quarter. Comerica Bank grew its holdings in Itau Unibanco by 2.0% during the 3rd quarter. Comerica Bank now owns 218,760 shares of the bank’s stock valued at $2,872,000 after buying an additional 4,202 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Itau Unibanco by 3.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 171,961 shares of the bank’s stock valued at $2,356,000 after buying an additional 4,935 shares in the last quarter. 4.68% of the stock is owned by institutional investors.
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About Itau Unibanco
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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