Itaú Unibanco (NYSE:ITUB) Upgraded at HSBC

Itaú Unibanco (NYSE:ITUB) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $6.80 price target on the bank’s stock. HSBC’s price objective would suggest a potential upside of 33.07% from the company’s previous close.

Separately, JPMorgan Chase & Co. cut their target price on shares of 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.27.

Itaú Unibanco Trading Up 0.4 %

NYSE:ITUB opened at $5.11 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The company’s 50 day moving average is $5.44 and its 200-day moving average is $6.02. The firm has a market cap of $50.08 billion, a price-to-earnings ratio of 6.55, a P/E/G ratio of 0.68 and a beta of 0.95. Itaú Unibanco has a 12 month low of $4.86 and a 12 month high of $7.27.

Institutional Trading of Itaú Unibanco

A number of hedge funds have recently bought and sold shares of the stock. Coldstream Capital Management Inc. increased its holdings in shares of Itaú Unibanco by 16.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock worth $103,000 after purchasing an additional 2,250 shares during the period. Van ECK Associates Corp increased its stake in Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after acquiring an additional 2,469 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Itaú Unibanco by 4.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank’s stock valued at $382,000 after acquiring an additional 2,500 shares in the last quarter. Creative Planning lifted its position in shares of Itaú Unibanco by 33.5% in the 3rd quarter. Creative Planning now owns 14,941 shares of the bank’s stock worth $99,000 after acquiring an additional 3,753 shares during the period. Finally, Blueshift Asset Management LLC grew its holdings in shares of Itaú Unibanco by 11.6% during the 3rd quarter. Blueshift Asset Management LLC now owns 41,990 shares of the bank’s stock worth $279,000 after purchasing an additional 4,379 shares in the last quarter.

Itaú Unibanco Company Profile

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.