Itaú Unibanco (NYSE:ITUB) Trading 3.3% Higher – Here’s What Happened

Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) traded up 3.3% during mid-day trading on Thursday . The stock traded as high as $5.71 and last traded at $5.72. 1,790,045 shares changed hands during trading, a decline of 92% from the average session volume of 23,449,733 shares. The stock had previously closed at $5.53.

Wall Street Analyst Weigh In

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

Itaú Unibanco Stock Performance

The company has a market capitalization of $61.45 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. 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 business’s fifty day moving average is $5.33 and its two-hundred day moving average is $5.29.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. Equities research analysts predict that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itaú Unibanco Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.0527 dividend. The ex-dividend date was Wednesday, February 19th. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s payout ratio is currently 2.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITUB. Bessemer Group Inc. bought a new position in shares of Itaú Unibanco during the 4th quarter valued at $35,000. Quantinno Capital Management LP bought a new position in Itaú Unibanco in the third quarter valued at about $68,000. Mount Yale Investment Advisors LLC purchased a new position in Itaú Unibanco in the fourth quarter worth about $57,000. Signaturefd LLC grew its stake in shares of Itaú Unibanco by 4,000.3% during the 4th quarter. Signaturefd LLC now owns 12,260 shares of the bank’s stock valued at $61,000 after purchasing an additional 11,961 shares during the period. Finally, Waverly Advisors LLC purchased a new stake in shares of Itaú Unibanco during the 4th quarter valued at about $67,000.

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.