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Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB)‘s stock had its “outperform” rating reaffirmed by Zacks in a report issued on Monday, American Banking & Market News reports. They currently have a $18.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 18.27% from the stock’s previous close.

Zacks’ analyst wrote, “Itau Unibanco’s fourth-quarter 2013 recurring earnings were up year over year. Elevated banking service fees, income from banking charges and a rise in the managerial financial margin were the positives. However, higher non-interest expenses reflected undisciplined expense management. Moreover, increasing competition and the stressed conditions in the Brazilian economy pose risks. We believe the company’s diversified product mix, increasing operating revenues and expanded credit portfolio are encouraging. Moreover, the recent merger with CorpBanca will help enhance Itau Unibanco’s footprint in Chile.”

Shares of Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB) traded up 2.76% during mid-day trading on Monday, hitting $15.64. 5,849,924 shares of the company’s stock traded hands. Itau Unibanco Holding Sociedade Anonima has a 52 week low of $11.38 and a 52 week high of $16.43. The stock has a 50-day moving average of $13.53 and a 200-day moving average of $13.77. The company has a market cap of $77.564 billion and a price-to-earnings ratio of 9.40.

Itau Unibanco Holding Sociedade Anonima (NASDAQ:ITUB) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.03. Analysts expect that Itau Unibanco Holding Sociedade Anonima will post $1.55 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which is scheduled for Monday, May 12th. Investors of record on Thursday, April 3rd will be given a dividend of $0.0064 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, April 1st.

Itaú Unibanco Holding SA, formerly Itaú Unibanco Banco Múltiplo SA is a bank in Brazil. The Company’s principal categories of operations are banking, which includes commercial bank through Itaú Unibanco and corporate and investment banking through Banco Itaú BBA SA (NASDAQ:ITUB), consumer credit to non accounts holders and its corporate and treasure activities.

To view Zacks’ full report, visit Zacks’ official website.

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