Itau Unibanco (ITUB) Downgraded to Neutral at Bank of America

Itau Unibanco (NYSE:ITUB) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, February 5th, Marketbeat.com reports.

A number of other research analysts also recently issued reports on the stock. Citigroup downgraded shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, October 25th. ValuEngine downgraded shares of Itau Unibanco from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Friday, October 19th. HSBC downgraded shares of Itau Unibanco from a “hold” rating to a “reduce” rating in a report on Tuesday, December 11th. Finally, Morgan Stanley raised shares of Itau Unibanco from an “underweight” rating to an “equal weight” rating in a report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Itau Unibanco presently has an average rating of “Hold” and a consensus price target of $12.00.

NYSE:ITUB traded down $0.12 during mid-day trading on Tuesday, hitting $9.28. 15,798,855 shares of the company’s stock were exchanged, compared to its average volume of 21,725,122. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.77 and a quick ratio of 1.77. Itau Unibanco has a fifty-two week low of $6.57 and a fifty-two week high of $10.91. The company has a market cap of $94.42 billion, a PE ratio of 14.06, a P/E/G ratio of 1.31 and a beta of 1.12.

Hedge funds have recently bought and sold shares of the stock. SeaBridge Investment Advisors LLC boosted its stake in shares of Itau Unibanco by 50.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 3,000 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Smithfield Trust Co. lifted its stake in Itau Unibanco by 50.0% in the fourth quarter. Smithfield Trust Co. now owns 4,457 shares of the bank’s stock worth $41,000 after acquiring an additional 1,485 shares during the period. Huntington National Bank lifted its stake in Itau Unibanco by 43.8% in the fourth quarter. Huntington National Bank now owns 5,311 shares of the bank’s stock worth $49,000 after acquiring an additional 1,617 shares during the period. Virtus ETF Advisers LLC lifted its stake in Itau Unibanco by 14.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 13,197 shares of the bank’s stock worth $121,000 after acquiring an additional 1,648 shares during the period. Finally, WealthTrust Arizona LLC lifted its stake in Itau Unibanco by 49.1% in the fourth quarter. WealthTrust Arizona LLC now owns 5,271 shares of the bank’s stock worth $48,000 after acquiring an additional 1,735 shares during the period. Institutional investors own 4.10% of the company’s stock.

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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