Itaú Unibanco (NYSE:ITUB) Reaches New 1-Year High – What’s Next?

Itaú Unibanco Holding S.A. (NYSE:ITUB) reached a new 52-week high during trading on Thursday . The stock traded as high as $6.66 and last traded at $6.63, with a volume of 25211066 shares. The stock had previously closed at $6.62.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Itaú Unibanco has an average rating of “Buy” and an average target price of $6.27.

Itaú Unibanco Stock Up 1.4%

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 company has a market cap of $72.56 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.89 and a beta of 0.76. The firm’s fifty day simple moving average is $5.82 and its 200 day simple moving average is $5.33.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. The business had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $43.07 billion. Sell-side analysts predict that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in shares of Itaú Unibanco by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 28,389,460 shares of the bank’s stock valued at $140,812,000 after buying an additional 489,873 shares in the last quarter. JPMorgan Chase & Co. raised its position in Itaú Unibanco by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock valued at $338,016,000 after purchasing an additional 2,604,304 shares during the last quarter. Haven Global Partners LLC purchased a new stake in Itaú Unibanco in the 4th quarter valued at $3,284,000. Walleye Capital LLC raised its position in Itaú Unibanco by 5,310.8% in the 4th quarter. Walleye Capital LLC now owns 783,968 shares of the bank’s stock valued at $3,888,000 after purchasing an additional 769,479 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Itaú Unibanco by 3.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 39,658,215 shares of the bank’s stock valued at $196,705,000 after purchasing an additional 1,286,014 shares during the last quarter.

Itaú Unibanco Company Profile

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.