Itau Unibanco (ITUB) Raised to “Buy” at Deutsche Bank

Itau Unibanco (NYSE:ITUB) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a report issued on Monday.

ITUB has been the topic of a number of other reports. Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. BidaskClub cut shares of Itau Unibanco from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. ValuEngine upgraded shares of Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Citigroup cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Itau Unibanco currently has an average rating of “Hold” and an average target price of $12.50.

Itau Unibanco (NYSE ITUB) opened at $12.87 on Monday. Itau Unibanco has a 1-year low of $9.10 and a 1-year high of $14.59. The stock has a market cap of $83,818.45, a price-to-earnings ratio of 11.10, a PEG ratio of 1.40 and a beta of 1.58. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.57.

Itau Unibanco declared that its board has authorized a stock buyback plan on Thursday, August 31st that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in ITUB. Comerica Securities Inc. bought a new stake in shares of Itau Unibanco in the 2nd quarter valued at approximately $117,000. Advisor Partners LLC acquired a new stake in Itau Unibanco in the 2nd quarter worth approximately $120,000. Glovista Investments LLC acquired a new stake in Itau Unibanco in the 2nd quarter worth approximately $137,000. Quantitative Systematic Strategies LLC acquired a new stake in Itau Unibanco in the 3rd quarter worth approximately $142,000. Finally, YorkBridge Wealth Partners LLC lifted its holdings in Itau Unibanco by 3.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 13,027 shares of the bank’s stock worth $146,000 after purchasing an additional 484 shares during the last quarter. 4.69% of the stock is owned by institutional investors and hedge funds.

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About Itau Unibanco

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

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