Citigroup Downgrades Itau Unibanco (ITUB) to Neutral

Citigroup lowered shares of Itau Unibanco (NYSE:ITUB) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat reports.

Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Itau Unibanco from a hold rating to a sell rating in a report on Friday, October 19th. ValuEngine upgraded Itau Unibanco from a sell rating to a hold rating in a report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $16.50.

NYSE ITUB traded up $0.27 during trading hours on Thursday, hitting $13.25. The company’s stock had a trading volume of 16,137,149 shares, compared to its average volume of 12,893,179. Itau Unibanco has a 12 month low of $9.85 and a 12 month high of $16.98. The company has a market capitalization of $85.84 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.23 and a beta of 1.66. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.35 and a current ratio of 1.35.



Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, July 31st. The bank reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Itau Unibanco had a return on equity of 16.99% and a net margin of 17.08%. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $8.05 billion. On average, equities analysts predict that Itau Unibanco will post 1.07 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.0039 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a dividend yield of 0.36%. Itau Unibanco’s dividend payout ratio is currently 3.51%.

Institutional investors have recently added to or reduced their stakes in the business. Point View Wealth Management Inc. bought a new stake in shares of Itau Unibanco during the 2nd quarter valued at about $106,000. Global Thematic Partners LLC bought a new stake in shares of Itau Unibanco during the 3rd quarter valued at about $125,000. Iberiabank Corp bought a new stake in shares of Itau Unibanco during the 3rd quarter valued at about $154,000. Capital Investment Advisory Services LLC bought a new stake in shares of Itau Unibanco during the 2nd quarter valued at about $242,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Itau Unibanco during the 2nd quarter valued at about $290,000. Institutional investors and hedge funds own 5.43% 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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