Itaú Unibanco (NYSE:ITUB) Shares Up 3.3% – Here’s What Happened

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

Analyst Ratings Changes

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

Itaú Unibanco Price Performance

The firm has a market capitalization of $57.57 billion, a PE ratio of 6.85, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.75 and a current ratio of 1.34. The stock has a fifty day moving average price of $5.35 and a 200-day moving average price of $5.29.

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

Itaú Unibanco Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.0527 dividend. This is an increase from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date of this dividend was Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is 2.82%.

Hedge Funds Weigh In On Itaú Unibanco

A number of large investors have recently made changes to their positions in the business. Bessemer Group Inc. purchased a new position in Itaú Unibanco during the 4th quarter worth $35,000. Quantinno Capital Management LP purchased a new stake in shares of Itaú Unibanco during the third quarter worth about $68,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Itaú Unibanco during the fourth quarter valued at about $57,000. Signaturefd LLC raised its position in shares of Itaú Unibanco by 4,000.3% in 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 last quarter. Finally, Waverly Advisors LLC acquired a new stake in Itaú Unibanco in the 4th quarter worth approximately $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.