Itaú Unibanco (NYSE:ITUB) Hits New 52-Week High - Here's What Happened

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $6.32 and last traded at $6.32, with a volume of 36030387 shares. The stock had previously closed at $6.21.

Wall Street Analyst Weigh In

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

Itaú Unibanco Price Performance

The stock has a market cap of $66.84 billion, a P/E ratio of 7.95, a P/E/G ratio of 0.89 and a beta of 0.65. The company's 50 day moving average price is $5.55 and its 200-day moving average price is $5.27. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Thursday, February 6th. The bank reported $0.17 EPS 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%. As a group, sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

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

Institutional Investors Weigh In On Itaú Unibanco

A number of institutional investors have recently modified their holdings of ITUB. FMR LLC boosted its position in Itaú Unibanco by 117.4% during the fourth quarter. FMR LLC now owns 51,044,340 shares of the bank's stock valued at $253,180,000 after acquiring an additional 27,559,997 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Itaú Unibanco by 311.4% during the 4th quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank's stock valued at $126,898,000 after purchasing an additional 19,365,644 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Itaú Unibanco during the fourth quarter worth approximately $71,054,000. Renaissance Technologies LLC increased its holdings in Itaú Unibanco by 75.0% in the fourth quarter. Renaissance Technologies LLC now owns 10,955,677 shares of the bank's stock worth $54,340,000 after purchasing an additional 4,694,303 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Itaú Unibanco by 9.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 48,018,726 shares of the bank's stock valued at $238,173,000 after buying an additional 4,151,459 shares during the period.

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.