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

Itau Unibanco Holding S.A. (NYSE:ITUB) has been given a consensus rating of “Moderate Buy” by the five research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.87.

ITUB has been the topic of several research analyst reports. HSBC lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 target price on the stock. in a research report on Thursday, October 8th. The Goldman Sachs Group restated a “buy” rating and set a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a research report on Friday, October 9th. Wall Street Zen raised shares of Itau Unibanco to a “hold” rating in a research note on Saturday. 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. Finally, JPMorgan Chase & Co. lifted their price objective on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th.

Insider Activity at Itau Unibanco

In other news, insider Vanzo Orestes sold 74,643 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total value of $625,508.34. Following the transaction, the insider owned 933,371 shares in the company, valued at $7,821,648.98. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

Institutional Trading of Itau Unibanco

Several large investors have recently made changes to their positions in ITUB. Engineers Gate Manager LP increased its holdings in Itau Unibanco by 19.5% in the 2nd quarter. Engineers Gate Manager LP now owns 878,443 shares of the bank’s stock valued at $7,177,000 after purchasing an additional 143,650 shares during the last quarter. Bank of America Corp DE raised its position in Itau Unibanco by 111.9% in the second quarter. Bank of America Corp DE now owns 22,293,618 shares of the bank’s stock valued at $182,139,000 after purchasing an additional 11,771,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Itau Unibanco by 552.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 150,483 shares of the bank’s stock worth $1,229,000 after purchasing an additional 127,417 shares in the last quarter. Amundi lifted its stake in Itau Unibanco by 32.1% during the second quarter. Amundi now owns 5,286,501 shares of the bank’s stock worth $43,191,000 after purchasing an additional 1,283,503 shares in the last quarter. Finally, Carmignac Gestion lifted its stake in Itau Unibanco by 41.6% during the second quarter. Carmignac Gestion now owns 12,219,314 shares of the bank’s stock worth $99,832,000 after purchasing an additional 3,589,092 shares in the last quarter.

Itau Unibanco Trading Up 0.1%

Shares of NYSE:ITUB opened at $9.45 on Friday. The business’s 50 day moving average price is $8.34 and its 200-day moving average price is $8.30. Itau Unibanco has a 1 year low of $6.80 and a 1 year high of $10.20. The firm has a market capitalization of $104.62 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.17 and a beta of 0.50. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08.

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

About Itau Unibanco

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.