Itaú Unibanco (NYSE:ITUB) Upgraded at Hsbc Global Res

Itaú Unibanco (NYSE:ITUB) was upgraded by analysts at Hsbc Global Res to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. HSBC upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target for the company in a report on Monday. JPMorgan Chase & Co. reduced their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Itaú Unibanco presently has an average rating of “Buy” and an average price target of $7.27.

Itaú Unibanco Stock Up 5.3 %

Shares of Itaú Unibanco stock opened at $5.37 on Monday. Itaú Unibanco has a 1 year low of $4.86 and a 1 year high of $7.27. The business has a 50-day moving average of $5.44 and a two-hundred day moving average of $6.02. The company has a market capitalization of $52.63 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 0.57 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ITUB. American Century Companies Inc. boosted its position in Itaú Unibanco by 5.2% during the second quarter. American Century Companies Inc. now owns 3,390,965 shares of the bank’s stock valued at $19,803,000 after purchasing an additional 166,626 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Itaú Unibanco by 15.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,172,345 shares of the bank’s stock valued at $6,846,000 after purchasing an additional 153,991 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Itaú Unibanco by 33.4% during the second quarter. Dimensional Fund Advisors LP now owns 228,293 shares of the bank’s stock valued at $1,333,000 after purchasing an additional 57,188 shares during the last quarter. Blair William & Co. IL boosted its position in Itaú Unibanco by 56.3% during the second quarter. Blair William & Co. IL now owns 41,367 shares of the bank’s stock valued at $242,000 after purchasing an additional 14,893 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Itaú Unibanco by 9.2% during the second quarter. Hsbc Holdings PLC now owns 2,219,210 shares of the bank’s stock valued at $12,941,000 after purchasing an additional 186,594 shares during the last quarter.

About Itaú Unibanco

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.