Itau Unibanco (NYSE:ITUB) Sets New 1-Year High - Still a Buy?

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $6.85 and last traded at $6.84, with a volume of 11015692 shares traded. The stock had previously closed at $6.65.

Itau Unibanco Stock Up 2.0%

The company has a debt-to-equity ratio of 2.43, a current ratio of 1.74 and a quick ratio of 1.74. The stock's fifty day simple moving average is $6.41 and its 200-day simple moving average is $5.56. The stock has a market cap of $73.15 billion, a P/E ratio of 9.59, a PEG ratio of 1.03 and a beta of 0.76.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $43.07 billion. Itau Unibanco had a return on equity of 19.35% and a net margin of 11.85%. On average, research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.0454 per share. The ex-dividend date is Wednesday, June 11th. This represents a dividend yield of 6.22%. This is a positive change from Itau Unibanco's previous dividend of $0.00. Itau Unibanco's dividend payout ratio is currently 30.99%.

Hedge Funds Weigh In On Itau Unibanco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in shares of Itau Unibanco in the 4th quarter worth approximately $35,000. Parallel Advisors LLC raised 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 worth $43,000 after buying an additional 6,781 shares during the period. Signaturefd LLC lifted its position in shares of Itau Unibanco by 4,000.3% in the 4th quarter. Signaturefd LLC now owns 12,260 shares of the bank's stock valued at $61,000 after acquiring an additional 11,961 shares in the last quarter. Alta Capital Management LLC acquired a new stake in shares of Itau Unibanco in the first quarter worth $62,000. Finally, Ieq Capital LLC purchased a new stake in Itau Unibanco in the 1st quarter worth about $64,000.

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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