Itaú Unibanco (NYSE:ITUB) Hits New 1-Year Low – What’s Next?

Itaú Unibanco Holding S.A. (NYSE:ITUB) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $5.34 and last traded at $5.34, with a volume of 222797 shares changing hands. The stock had previously closed at $5.74.

Wall Street Analyst Weigh In

ITUB has been the subject of a number of recent analyst reports. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Itaú Unibanco Stock Down 7.0 %

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 firm has a market capitalization of $52.34 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.98. The business has a fifty day moving average price of $6.21 and a two-hundred day moving average price of $6.24.

Itaú Unibanco Cuts Dividend

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

Institutional Trading of Itaú Unibanco

Several large investors have recently made changes to their positions in ITUB. Van ECK Associates Corp lifted its position 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 purchasing an additional 2,469 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in shares of Itaú Unibanco during the 2nd quarter valued at about $65,000. Daymark Wealth Partners LLC acquired a new position in shares of Itaú Unibanco in the 3rd quarter valued at about $68,000. Quantinno Capital Management LP acquired a new position in shares of Itaú Unibanco in the 3rd quarter valued at about $68,000. Finally, MQS Management LLC purchased a new stake in shares of Itaú Unibanco in the third quarter worth about $70,000.

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.