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Itau Unibanco Holding SA (NASDAQ:ITUB) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Monday. They currently have a $16.00 price target on the stock. Zacks‘s target price suggests a potential upside of 4.78% from the stock’s previous close.

Zacks’ analyst wrote, “We have downgraded our long-term recommendation on Itau Unibanco to Neutral based on the company’s undisciplined expense management reflected in the first-quarter 2014 results. However, 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. 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. However, increasing competition, elevated expenses and stressed conditions in the Brazilian economy pose risks. “

Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Itau Unibanco Holding SA in a research note on Monday, April 14th. They now have a $16.00 price target on the stock.

Itau Unibanco Holding SA (NASDAQ:ITUB) traded down 0.79% on Monday, hitting $15.15. 3,144,206 shares of the company’s stock traded hands. Itau Unibanco Holding SA has a 52-week low of $10.3455 and a 52-week high of $15.5364. The stock has a 50-day moving average of $14.88 and a 200-day moving average of $13.00. The company has a market cap of $82.822 billion and a price-to-earnings ratio of 11.20.

Itau Unibanco Holding SA (NASDAQ:ITUB) last announced its earnings results on Tuesday, April 29th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.01. On average, analysts predict that Itau Unibanco Holding SA will post $1.46 earnings per share for the current fiscal year.

The company also recently announced a special dividend, which is scheduled for Monday, August 11th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.0067 per share. This represents a dividend yield of 0.49%. The ex-dividend date is Tuesday, July 1st.

Itau Unibanco Holding SA is a Brazil-based holding active in the banking sector. The Company divides its activities into four segments: Commercial Banking, which offers retail banking and legal entities customers services, among others; Itau BBA, which offers products and wholesale services for companies as well as investment banking activities; Consumer Credit, which provides financial products and services such as checking accounts, auto loans and credit card transactions, among others; Market and Corporation Activity, which provides excess cash management, subordinated debt surplus administration and leads observations on certain treasury activities, among others.

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

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