Itau Unibanco Holding S.A. (NYSE:ITUB) Stock Has Consensus Target Price of $9.87

Itau Unibanco Holding S.A. (NYSE:ITUB) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.87.

Several research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Itau Unibanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group reissued a “buy” rating and set a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. HSBC lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price objective on the stock. in a report on Thursday, October 8th. Wall Street Zen raised shares of Itau Unibanco to a “hold” rating in a research note on Saturday, October 17th. 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 research note on Tuesday, July 7th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Itau Unibanco

Several institutional investors have recently modified their holdings of ITUB. Axxcess Wealth Management LLC acquired a new stake in shares of Itau Unibanco during the third quarter worth about $93,000. Global Strategic Management Inc. bought a new position in shares of Itau Unibanco during the 3rd quarter valued at about $449,000. Euro Pacific Asset Management LLC lifted its holdings in shares of Itau Unibanco by 0.4% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 426,002 shares of the bank’s stock valued at $3,634,000 after purchasing an additional 1,516 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Itau Unibanco by 1.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 101,400 shares of the bank’s stock valued at $865,000 after purchasing an additional 1,227 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Itau Unibanco by 8.6% in the 3rd quarter. GAMMA Investing LLC now owns 13,069 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,031 shares during the period.

Itau Unibanco Stock Up 0.1%

NYSE:ITUB opened at $9.71 on Friday. The stock’s fifty day moving average price is $8.43 and its two-hundred day moving average price is $8.32. Itau Unibanco has a 52-week low of $6.80 and a 52-week high of $10.20. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $107.50 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.21 and a beta of 0.50.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. On average, analysts anticipate that Itau Unibanco will post 0.88 EPS for the current year.

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.