Itau Unibanco (NYSE:ITUB – Get Free Report) issued its earnings results on Tuesday. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%.
Itau Unibanco Stock Up 2.5%
ITUB traded up $0.20 during trading on Wednesday, reaching $8.39. The company had a trading volume of 12,275,839 shares, compared to its average volume of 24,240,719. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. Itau Unibanco has a 12 month low of $6.39 and a 12 month high of $9.60. The business’s fifty day moving average price is $8.10 and its 200 day moving average price is $8.38. The company has a market cap of $92.99 billion, a P/E ratio of 11.51, a PEG ratio of 0.91 and a beta of 0.58.
Itau Unibanco Dividend Announcement
The business also recently announced a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.068 per share. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s dividend payout ratio (DPR) is 4.11%.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on Itau Unibanco
Insider Activity
In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the sale, the insider owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Itau Unibanco
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Itau Unibanco in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after purchasing an additional 5,355 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Itau Unibanco by 486.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock worth $66,000 after buying an additional 7,436 shares during the period. Syon Capital LLC bought a new position in shares of Itau Unibanco during the fourth quarter worth about $72,000. Finally, Arax Advisory Partners grew its holdings in shares of Itau Unibanco by 1,768.5% during the fourth quarter. Arax Advisory Partners now owns 10,314 shares of the bank’s stock worth $74,000 after buying an additional 9,762 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.
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