Itau Unibanco (NYSE:ITUB) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Other equities analysts have also issued research reports about the stock. Deutsche Bank upgraded shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, December 11th. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, BidaskClub lowered shares of Itau Unibanco from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.25.

Itau Unibanco (ITUB) traded up $0.07 during mid-day trading on Friday, reaching $13.00. 7,717,800 shares of the company’s stock traded hands, compared to its average volume of 11,080,268. 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 has a 12-month low of $10.02 and a 12-month high of $14.59. The company has a market capitalization of $84,665.10, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.41 and a beta of 1.59.

Itau Unibanco declared that its board has approved a stock repurchase program on Monday, December 18th that permits the company to buyback 28,620,000 shares. This buyback authorization permits the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Several institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its position in shares of Itau Unibanco by 3.0% during the third quarter. Neuberger Berman Group LLC now owns 171,961 shares of the bank’s stock worth $2,356,000 after acquiring an additional 4,935 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Itau Unibanco by 115.5% during the third quarter. Cubist Systematic Strategies LLC now owns 62,685 shares of the bank’s stock worth $859,000 after acquiring an additional 33,594 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Itau Unibanco by 9.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 264,176 shares of the bank’s stock worth $3,619,000 after acquiring an additional 22,501 shares during the last quarter. Oaktree Capital Management LP grew its position in shares of Itau Unibanco by 4.7% during the third quarter. Oaktree Capital Management LP now owns 9,240,139 shares of the bank’s stock worth $126,590,000 after acquiring an additional 418,711 shares during the last quarter. Finally, AMP Capital Investors Ltd grew its position in Itau Unibanco by 18.4% in the 3rd quarter. AMP Capital Investors Ltd now owns 340,196 shares of the bank’s stock valued at $4,661,000 after buying an additional 52,907 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

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Itau Unibanco Company Profile

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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