Itaú Unibanco (NYSE:ITUB) Reaches New 12-Month Low – Here’s What Happened

Itaú Unibanco Holding S.A. (NYSE:ITUB)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $4.86 and last traded at $4.88, with a volume of 324177 shares traded. The stock had previously closed at $4.96.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Stock Performance

The firm has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $6.07. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market cap of $47.73 billion, a price-to-earnings ratio of 6.24, a P/E/G ratio of 0.68 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a $0.0025 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a yield of 0.6%. Itaú Unibanco’s dividend payout ratio (DPR) is presently 3.85%.

Hedge Funds Weigh In On Itaú Unibanco

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,469 shares during the last quarter. Daymark Wealth Partners LLC bought a new stake in shares of Itaú Unibanco in the third quarter valued at about $68,000. Quantinno Capital Management LP acquired a new stake in Itaú Unibanco during the third quarter worth about $68,000. MQS Management LLC acquired a new stake in Itaú Unibanco during the third quarter worth about $70,000. Finally, Raymond James Trust N.A. bought a new position in Itaú Unibanco during the third quarter valued at about $81,000.

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.