Itau Unibanco (NYSE:ITUB) Issues Earnings Results
by Scott Moore · The Cerbat GemItau Unibanco (NYSE:ITUB – Get Free Report) issued its quarterly earnings data on Wednesday. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03), Zacks reports. Itau Unibanco had a return on equity of 19.60% and a net margin of 16.30%.
Itau Unibanco Stock Performance
NYSE:ITUB traded down $0.27 during trading hours on Wednesday, reaching $8.52. The stock had a trading volume of 39,700,974 shares, compared to its average volume of 26,423,275. Itau Unibanco has a 12-month low of $4.73 and a 12-month high of $9.10. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a 50 day simple moving average of $7.53 and a 200 day simple moving average of $7.08. The stock has a market cap of $94.37 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.62.
Itau Unibanco Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, December 2nd will be given a $0.0032 dividend. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 2nd. Itau Unibanco’s dividend payout ratio (DPR) is currently 4.29%.
Analysts Set New Price Targets
Several analysts have recently issued reports on ITUB shares. Zacks Research upgraded shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of Itau Unibanco from $6.80 to $7.77 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco currently has a consensus rating of “Buy” and a consensus target price of $7.77.
View Our Latest Stock Analysis on ITUB
Institutional Investors Weigh In On Itau Unibanco
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITUB. Orbis Allan Gray Ltd lifted its holdings in Itau Unibanco by 104.3% during 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. Ameriprise Financial Inc. raised its position in shares of Itau Unibanco by 56.1% in the third quarter. Ameriprise Financial Inc. now owns 14,189,765 shares of the bank’s stock valued at $104,153,000 after purchasing an additional 5,101,806 shares during the period. Samlyn Capital LLC purchased a new stake in shares of Itau Unibanco during the 3rd quarter valued at approximately $99,388,000. Voloridge Investment Management LLC boosted its holdings in Itau Unibanco by 16.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 12,598,545 shares of the bank’s stock worth $92,473,000 after buying an additional 1,753,068 shares during the period. Finally, Boston Partners grew its stake in Itau Unibanco by 1,667.7% in the 3rd quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock valued at $91,117,000 after buying an additional 11,711,487 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.
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