Itau Unibanco (NYSE:ITUB) Releases Earnings Results, Meets Expectations

Key Points

• Itau Unibanco reported quarterly earnings of $0.18 per share, meeting analysts' expectations, alongside a return on equity of 19.35% and a net margin of 11.85%.
• The bank declared a $0.0024 dividend with a yield of 43.0%, though the dividend payout ratio currently stands at 4.23%.
• Shares of Itau Unibanco increased by 1.2%, reaching a price of $6.51, with a notable trading volume surpassing its average.

Itau Unibanco (NYSE:ITUB - Get Free Report) issued its quarterly earnings results on Tuesday. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18, Zacks reports. Itau Unibanco had a return on equity of 19.35% and a net margin of 11.85%.

Itau Unibanco Trading Up 1.2%

Shares of NYSE:ITUB traded up $0.08 during trading on Tuesday, reaching $6.51. The company's stock had a trading volume of 42,304,250 shares, compared to its average volume of 28,963,258. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43. Itau Unibanco has a 12 month low of $4.42 and a 12 month high of $6.95. The firm's 50 day simple moving average is $6.55 and its two-hundred day simple moving average is $5.95. The stock has a market capitalization of $70.18 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.74.

Itau Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $0.0024 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a dividend yield of 43.0%. Itau Unibanco's dividend payout ratio (DPR) is presently 4.23%.

Institutional Trading of Itau Unibanco

An institutional investor recently raised its position in Itau Unibanco stock. Royal Bank of Canada grew its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 445,578 shares of the bank's stock after acquiring an additional 46,608 shares during the period. Royal Bank of Canada's holdings in Itau Unibanco were worth $2,450,000 at the end of the most recent quarter.

Analyst Ratings Changes

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

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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