Itaú Unibanco (NYSE:ITUB) Price Target Lowered to $7.00 at JPMorgan Chase & Co.

Itaú Unibanco (NYSE:ITUB) had its target price decreased by JPMorgan Chase & Co. from $8.00 to $7.00 in a research report sent to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the bank’s stock.

Separately, UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Trading Down 2.2 %

Shares of NYSE:ITUB traded down $0.14 during midday trading on Thursday, reaching $6.11. The company had a trading volume of 19,751,690 shares, compared to its average volume of 18,206,395. The company has a fifty day simple moving average of $6.42 and a two-hundred day simple moving average of $6.27. The firm has a market cap of $59.88 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 0.78 and a beta of 0.98. Itaú Unibanco has a 1-year low of $5.62 and a 1-year high of $7.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The business had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. Research analysts predict that Itaú Unibanco will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be given a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is 3.85%.

Institutional Investors Weigh In On Itaú Unibanco

Several large investors have recently made changes to their positions in the company. Capital World Investors increased its position in Itaú Unibanco by 64.4% during the first quarter. Capital World Investors now owns 8,654,237 shares of the bank’s stock worth $59,974,000 after buying an additional 3,390,463 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Itaú Unibanco by 77.5% during the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after purchasing an additional 3,106,130 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Itaú Unibanco by 8.5% in the 1st quarter. First Eagle Investment Management LLC now owns 1,398,982 shares of the bank’s stock worth $9,695,000 after acquiring an additional 109,259 shares during the period. Perpetual Ltd increased its stake in shares of Itaú Unibanco by 9.0% in the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after purchasing an additional 1,126,695 shares during the period. Finally, Itau Unibanco Holding S.A. increased its position in Itaú Unibanco by 2.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock worth $134,606,000 after buying an additional 529,600 shares during the period.

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.