Itaú Unibanco (NYSE:ITUB) Hits New 12-Month Low – What’s Next?

Itaú Unibanco Holding S.A. (NYSE:ITUB)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $5.20 and last traded at $5.23, with a volume of 2709389 shares traded. The stock had previously closed at $5.27.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. decreased their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Itaú Unibanco has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Stock Performance

The company has a market cap of $51.26 billion, a PE ratio of 6.71, a P/E/G ratio of 0.68 and a beta of 0.95. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The stock’s 50 day simple moving average is $5.90 and its two-hundred day simple moving average is $6.15.

Itaú Unibanco Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s payout ratio is currently 46.15%.

Institutional Trading of Itaú Unibanco

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Itaú Unibanco in the second quarter valued at approximately $165,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Itaú Unibanco by 19.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,668 shares of the bank’s stock worth $232,000 after buying an additional 6,412 shares during the last quarter. Wealth Advisory Solutions LLC acquired a new position in Itaú Unibanco in the 2nd quarter valued at approximately $83,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Itaú Unibanco by 105.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 14,172 shares of the bank’s stock valued at $83,000 after buying an additional 7,284 shares during the period. Finally, Banco Santander S.A. boosted its holdings in Itaú Unibanco by 77.7% during the second quarter. Banco Santander S.A. now owns 60,704 shares of the bank’s stock valued at $355,000 after purchasing an additional 26,551 shares in the last quarter.

About Itaú Unibanco

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.