Itau Unibanco (NYSE:ITUB) Announces Quarterly Earnings Results

Itau Unibanco (NYSE:ITUB) issued its quarterly earnings results on Wednesday. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03), Zacks reports. Itau Unibanco had a return on equity of 20.82% and a net margin of 20.64%.The firm had revenue of $629.68 million during the quarter, compared to analyst estimates of $8.98 billion.

Itau Unibanco Stock Up 2.7%

Shares of NYSE ITUB traded up $0.24 during mid-day trading on Friday, hitting $8.92. The company had a trading volume of 11,932,091 shares, compared to its average volume of 26,155,504. The company has a market capitalization of $98.75 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.00 and a beta of 0.62. The business’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $7.10. Itau Unibanco has a 1-year low of $4.73 and a 1-year high of $9.10. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58.

Itau Unibanco Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.0032 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. Itau Unibanco’s dividend payout ratio is currently 4.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITUB shares. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Itau Unibanco from $6.80 to $7.77 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. One 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $7.77.

Institutional Investors Weigh In On Itau Unibanco

A number of hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after buying an additional 5,355 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Itau Unibanco by 486.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after purchasing an additional 7,436 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Itau Unibanco by 42.4% during the 3rd quarter. Van ECK Associates Corp now owns 13,687 shares of the bank’s stock worth $100,000 after purchasing an additional 4,076 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of Itau Unibanco during the third quarter worth $113,000. Finally, Tower Research Capital LLC TRC raised its stake in Itau Unibanco by 106.1% in the second quarter. Tower Research Capital LLC TRC now owns 18,831 shares of the bank’s stock valued at $128,000 after buying an additional 9,696 shares in the last quarter.

About Itau Unibanco

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.