Itaú Unibanco (NYSE:ITUB) Sets New 52-Week Low – What’s Next?

Itaú Unibanco Holding S.A. (NYSE:ITUB) shares reached a new 52-week low on Thursday . The stock traded as low as $4.86 and last traded at $4.88, with a volume of 324177 shares traded. The stock had previously closed at $4.96.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price target on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Itaú Unibanco has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Itaú Unibanco Price Performance

The business has a fifty day moving average of $5.63 and a 200-day moving average of $6.08. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a market cap of $47.83 billion, a PE ratio of 6.26, a PEG ratio of 0.68 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be issued a $0.0025 dividend. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, January 2nd. Itaú Unibanco’s payout ratio is 3.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ITUB. Van ECK Associates Corp boosted its position in shares of Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after acquiring an additional 2,469 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in Itaú Unibanco in the third quarter valued at approximately $68,000. Daymark Wealth Partners LLC bought a new stake in Itaú Unibanco during the third quarter valued at approximately $68,000. MQS Management LLC purchased a new position in Itaú Unibanco in the 3rd quarter worth approximately $70,000. Finally, Raymond James Trust N.A. bought a new position in shares of Itaú Unibanco in the 3rd quarter worth $81,000.

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.