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

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)'s stock price hit a new 52-week high 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 reiterated a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th.

Itau Unibanco Price Performance

The company has a market capitalization of $75.20 billion, a P/E ratio of 9.89, a P/E/G ratio of 1.08 and a beta of 0.74. The business's 50-day simple moving average is $6.59 and its 200 day simple moving average is $6.04. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39.

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

Itau Unibanco Cuts Dividend

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

Institutional Trading of Itau Unibanco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its position in shares of Itau Unibanco by 3,590.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank's stock worth $29,000 after buying an additional 4,201 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Itau Unibanco in the 4th quarter worth approximately $35,000. MAI Capital Management bought a new stake in shares of Itau Unibanco in the 2nd quarter worth approximately $41,000. Parallel Advisors LLC raised its holdings in shares of Itau 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. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock worth $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.