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

Itaú Unibanco (NYSE:ITUB - Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02, Zacks reports. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. The firm had revenue of $7.93 billion for the quarter, compared to analysts' expectations of $43.07 billion.

Itaú Unibanco Stock Performance

Shares of NYSE:ITUB traded down $0.17 on Monday, reaching $6.45. 50,497,301 shares of the company's stock were exchanged, compared to its average volume of 24,504,083. The company has a fifty day moving average of $5.67 and a 200-day moving average of $5.29. Itaú Unibanco has a twelve month low of $4.42 and a twelve month high of $6.73. The company has a market capitalization of $69.48 billion, a price-to-earnings ratio of 8.26, 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.

Itaú Unibanco Cuts Dividend

The firm 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 of this dividend is Monday, May 5th. This represents a dividend yield of 0.46%. Itaú Unibanco's payout ratio is presently 2.82%.

Analysts Set New Price Targets

ITUB has been the topic of several research analyst reports. Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a report on Monday, January 13th. UBS Group raised shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Finally, HSBC raised shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 price target on the stock 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 company's stock. Based on data from MarketBeat, Itaú Unibanco presently has a consensus rating of "Buy" and a consensus target price 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.