Itau Unibanco (NYSE:ITUB) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Itau Unibanco Holding S.A. (NYSE:ITUB) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.89 and traded as high as $7.39. Itau Unibanco shares last traded at $7.3010, with a volume of 17,623,242 shares changing hands.

Analyst Ratings Changes

ITUB has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on Itau Unibanco from $6.80 to $7.77 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, Zacks Research downgraded Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Itau Unibanco presently has an average rating of “Moderate Buy” and an average price target of $7.77.

Itau Unibanco Price Performance

The company has a fifty day moving average price of $7.28 and a two-hundred day moving average price of $6.89. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.33. The firm has a market capitalization of $80.87 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 1.00 and a beta of 0.65.

Itau Unibanco Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, December 2nd will be paid a $0.0032 dividend. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, December 2nd. Itau Unibanco’s dividend payout ratio (DPR) is 4.29%.

Institutional Trading of Itau Unibanco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd grew its holdings in Itau Unibanco by 104.3% in the second quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock valued at $574,053,000 after purchasing an additional 43,153,787 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Itau Unibanco by 39.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 57,624,188 shares of the bank’s stock valued at $422,962,000 after buying an additional 16,339,845 shares during the period. Samlyn Capital LLC acquired a new stake in Itau Unibanco during the 3rd quarter worth approximately $99,388,000. Boston Partners lifted its stake in shares of Itau Unibanco by 1,667.7% during the third quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock worth $91,117,000 after purchasing an additional 11,711,487 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Itau Unibanco by 51.9% during the 2nd quarter. William Blair Investment Management LLC now owns 29,278,462 shares of the bank’s stock valued at $198,860,000 after purchasing an additional 10,002,310 shares in the last quarter.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.