Itau Unibanco (NYSE:ITUB) Reaches New 1-Year High - Here's What Happened

Key Points

• Itau Unibanco's stock reached a new 52-week high of $7.42, reflecting strong trading activity with over 7 million shares exchanged.
• The bank recently declared a monthly dividend of $0.0454, significantly increasing from its previous dividend of $0.00, providing a yield of 7.3%.
• Institutional investors are actively buying shares, with notable increases in holdings from companies like Fielder Capital Group and Parallel Advisors.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $7.42 and last traded at $7.39, with a volume of 7203104 shares changing hands. The stock had previously closed at $7.24.

Wall Street Analyst Weigh In

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $6.27.

Itau Unibanco Trading Up 2.4%

The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $79.94 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.09 and a beta of 0.86. The stock's 50-day moving average is $6.78 and its two-hundred day moving average is $6.38.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share 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 business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. As a group, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were given a $0.0454 dividend. The ex-dividend date was Wednesday, August 20th. This is a boost from Itau Unibanco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 7.3%. Itau Unibanco's payout ratio is 4.23%.

Institutional Investors Weigh In On Itau Unibanco

Institutional investors have recently bought and sold shares of the business. Fielder Capital Group LLC lifted its position in shares of Itau Unibanco by 10.0% in the first quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank's stock worth $103,000 after buying an additional 1,710 shares in the last quarter. Flputnam Investment Management Co. lifted its position in shares of Itau Unibanco by 10.7% in the first quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank's stock worth $110,000 after buying an additional 1,930 shares in the last quarter. Union Bancaire Privee UBP SA lifted its position in shares of Itau Unibanco by 10.0% in the first quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock worth $121,000 after buying an additional 2,000 shares in the last quarter. Hamilton Capital LLC grew its stake in shares of Itau Unibanco by 15.5% in the 1st quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock worth $88,000 after buying an additional 2,163 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Itau Unibanco by 31.7% in the 2nd quarter. Parallel Advisors LLC now owns 10,195 shares of the bank's stock worth $69,000 after buying an additional 2,455 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.

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