Itaú Unibanco (NYSE:ITUB) Hits New 52-Week Low – Time to Sell?

Itaú Unibanco Holding S.A. (NYSE:ITUB)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $5.34 and last traded at $5.34, with a volume of 222797 shares changing hands. The stock had previously closed at $5.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ITUB shares. JPMorgan Chase & Co. reduced their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Itaú Unibanco Trading Down 7.0 %

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 stock has a 50-day simple moving average of $6.21 and a two-hundred day simple moving average of $6.24. The firm has a market capitalization of $52.34 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.98.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco’s payout ratio is 3.85%.

Hedge Funds Weigh In On Itaú Unibanco

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in shares of Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock worth $38,000 after acquiring an additional 2,469 shares in the last quarter. Quantinno Capital Management LP bought a new position in Itaú Unibanco in the third quarter worth about $68,000. Daymark Wealth Partners LLC purchased a new stake in shares of Itaú Unibanco during the third quarter valued at about $68,000. MQS Management LLC bought a new stake in shares of Itaú Unibanco in the 3rd quarter valued at about $70,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Itaú Unibanco in the 2nd quarter worth approximately $65,000.

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.