Itau Unibanco (NYSE:ITUB) Issues Quarterly Earnings Results

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) released its earnings results on Tuesday. The bank reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18, Zacks reports. The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%.

Itau Unibanco Stock Performance

NYSE ITUB traded up $0.02 during trading hours on Friday, hitting $6.85. The company's stock had a trading volume of 28,042,752 shares, compared to its average volume of 29,978,540. Itau Unibanco has a 12 month low of $4.42 and a 12 month high of $6.95. The company's 50 day simple moving average is $6.55 and its two-hundred day simple moving average is $5.99. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.74. The company has a market cap of $73.85 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 1.05 and a beta of 0.74.

Itau Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were given a dividend of $0.0024 per share. 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 (DPR) is 4.23%.

Hedge Funds Weigh In On Itau Unibanco

A hedge fund recently raised its stake in Itau Unibanco stock. Royal Bank of Canada increased its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 445,578 shares of the bank's stock after purchasing an additional 46,608 shares during the quarter. 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 reiterated 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.