Shares of Itau Unibanco Holding SA (NYSE:ITUB) have been given an average rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.25.
Several research firms have recently issued reports on ITUB. Scotiabank downgraded Itau Unibanco from a “sector perform” rating to an “underperform” rating in a research note on Wednesday. ValuEngine downgraded Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Credit Suisse Group upgraded Itau Unibanco from a “neutral” rating to a “buy” rating in a research note on Monday, March 5th. Zacks Investment Research downgraded Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank upgraded Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, December 11th.
Several hedge funds and other institutional investors have recently bought and sold shares of ITUB. Nationwide Fund Advisors lifted its position in shares of Itau Unibanco by 156.4% during the 3rd quarter. Nationwide Fund Advisors now owns 243,730 shares of the bank’s stock worth $3,339,000 after purchasing an additional 148,660 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Itau Unibanco by 10.1% during the 3rd quarter. First Trust Advisors LP now owns 173,530 shares of the bank’s stock worth $2,377,000 after purchasing an additional 15,959 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Itau Unibanco by 32.3% during the 3rd quarter. American Century Companies Inc. now owns 2,333,272 shares of the bank’s stock worth $31,966,000 after purchasing an additional 568,987 shares during the last quarter. Boston Partners acquired a new position in shares of Itau Unibanco during the 3rd quarter worth about $1,103,000. Finally, FDx Advisors Inc. lifted its position in shares of Itau Unibanco by 24.4% during the 3rd quarter. FDx Advisors Inc. now owns 74,909 shares of the bank’s stock worth $1,026,000 after purchasing an additional 14,713 shares during the last quarter. 4.99% of the stock is owned by institutional investors and hedge funds.
Itau Unibanco (NYSE:ITUB) last released its quarterly earnings results on Monday, February 5th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $8.49 billion. Itau Unibanco had a return on equity of 16.87% and a net margin of 21.51%. research analysts predict that Itau Unibanco will post 1.19 EPS for the current year.
Itau Unibanco declared that its board has authorized a stock repurchase program on Monday, December 18th that allows the company to buyback 28,620,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 12th. Investors of record on Friday, March 2nd will be given a dividend of $0.0046 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.05 annualized dividend and a dividend yield of 0.35%. Itau Unibanco’s dividend payout ratio is presently 4.35%.
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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