Itaú Unibanco (NYSE:ITUB) Reaches New 1-Year High – Here’s Why

Itaú Unibanco Holding S.A. (NYSE:ITUB) shares reached a new 52-week high on Thursday . The company 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.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Itaú Unibanco currently has an average rating of “Buy” and an average target price of $6.27.

Itaú Unibanco Trading Up 0.2%

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 50 day moving average price is $5.76 and its 200-day moving average price is $5.31. The company has a market cap of $71.48 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.89 and a beta of 0.76.

Itaú Unibanco (NYSE:ITUB) last released its earnings results on Thursday, May 8th. The bank reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates of $43.07 billion. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. On average, equities analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. purchased a new stake in Itaú Unibanco during the fourth quarter worth about $35,000. Parallel Advisors LLC boosted its holdings in shares of Itaú Unibanco by 707.1% in the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank’s stock worth $43,000 after purchasing an additional 6,781 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Itaú Unibanco in the 4th quarter worth about $57,000. Signaturefd LLC boosted its holdings in 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 acquiring an additional 11,961 shares during the period. Finally, Alta Capital Management LLC purchased a new stake in Itaú Unibanco during the 1st quarter valued at about $62,000.

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.