Itaú Unibanco (NYSE:ITUB) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Itaú Unibanco (NYSE:ITUB) announced its quarterly earnings results on Thursday. The bank reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02, Zacks reports. Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%.

Itaú Unibanco Stock Performance

Shares of ITUB opened at $6.23 on Friday. The company has a market capitalization of $67.14 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 0.89 and a beta of 0.76. The company has a current ratio of 1.34, a quick ratio of 1.75 and a debt-to-equity ratio of 2.32. The stock has a 50 day moving average of $5.64 and a 200 day moving average of $5.29. Itaú Unibanco has a 12 month low of $4.42 and a 12 month high of $6.37.

Itaú Unibanco Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.0024 per share. The ex-dividend date is Monday, May 5th. This represents a dividend yield of 0.46%. Itaú Unibanco’s dividend payout ratio is currently 2.82%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ITUB. HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 price objective on the stock in a report on Monday, January 13th. UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.27.

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.