Itau Unibanco (NYSE:ITUB) Sets New 52-Week High - Time to Buy?

Key Points

• Itau Unibanco shares reached a new 52-week high, trading at $6.98, with a significant volume of 2,393,646 shares exchanged.
• UBS Group has maintained a "neutral" rating on Itau Unibanco, suggesting analysts are cautious about the stock despite its recent performance.
• The bank recently announced a dividend of $0.0024, reflecting a high dividend yield of 43.0%, which indicates robust returns for shareholders.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.98 and last traded at $6.96, with a volume of 2393646 shares changing hands. The stock had previously closed at $6.86.

Analyst Ratings Changes

Separately, UBS Group reaffirmed a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th.

Itau Unibanco Stock Down 0.1%

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. The firm has a market cap of $75.04 billion, a PE ratio of 9.87, a P/E/G ratio of 1.08 and a beta of 0.74. The firm's 50 day moving average is $6.60 and its 200-day moving average is $6.05.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. As a group, equities research analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a $0.0024 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a dividend yield of 43.0%. Itau Unibanco's dividend payout ratio is presently 4.23%.

Institutional Investors Weigh In On Itau Unibanco

Several large investors have recently made changes to their positions in ITUB. Farther Finance Advisors LLC grew its holdings in Itau Unibanco by 3,590.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank's stock valued at $29,000 after purchasing an additional 4,201 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Itau Unibanco during the 4th quarter valued at $35,000. MAI Capital Management acquired a new stake in Itau Unibanco during the 2nd quarter valued at $41,000. Parallel Advisors LLC grew its holdings in Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock valued at $43,000 after purchasing an additional 6,781 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock valued at $47,000 after purchasing an additional 5,355 shares in the last quarter.

Itau 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.