Itaú Unibanco (NYSE:ITUB) Hits New 1-Year High - Here's Why

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

Itaú Unibanco Price Performance

The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $72.56 billion, a P/E ratio of 8.63, a PEG ratio of 0.89 and a beta of 0.76. The business has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $5.33.

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

Itaú Unibanco Cuts Dividend

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

Institutional Investors Weigh In On Itaú Unibanco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hamilton Capital LLC raised its stake in shares of Itaú Unibanco by 15.5% during the first quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock valued at $88,000 after purchasing an additional 2,163 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Itaú Unibanco by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank's stock worth $27,482,000 after acquiring an additional 1,107,607 shares during the period. USS Investment Management Ltd grew its holdings in Itaú Unibanco by 10.0% during the first quarter. USS Investment Management Ltd now owns 2,778,562 shares of the bank's stock worth $15,268,000 after acquiring an additional 252,596 shares during the period. AQR Capital Management LLC grew its holdings in Itaú Unibanco by 212.8% during the first quarter. AQR Capital Management LLC now owns 2,473,016 shares of the bank's stock worth $13,602,000 after acquiring an additional 1,682,354 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Itaú Unibanco by 16.1% during the first quarter. Advisors Asset Management Inc. now owns 84,206 shares of the bank's stock worth $463,000 after acquiring an additional 11,670 shares during the period.

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.