Itau Unibanco (NYSE:ITUB) Reaches New 1-Year High After Dividend Announcement

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as $6.91 and last traded at $6.84, with a volume of 907 shares trading hands. The stock had previously closed at $6.79.

The newly announced dividend which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $0.0024 per share. The ex-dividend date is Wednesday, July 2nd. This represents a yield of 0.43%. Itau Unibanco's payout ratio is 26.76%.

Itau Unibanco Stock Performance

The business has a 50-day moving average price of $6.55 and a 200-day moving average price of $5.64. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.43. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 1.05 and a beta of 0.76.

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

Institutional Trading of Itau Unibanco

A number of hedge funds have recently modified their holdings of the stock. Fielder Capital Group LLC lifted its holdings in Itau Unibanco by 10.0% in the first quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank's stock valued at $103,000 after acquiring an additional 1,710 shares during the period. Metis Global Partners LLC increased its holdings in shares of Itau Unibanco by 7.4% during the 4th quarter. Metis Global Partners LLC now owns 27,876 shares of the bank's stock valued at $138,000 after purchasing an additional 1,925 shares in the last quarter. Flputnam Investment Management Co. lifted its stake in shares of Itau Unibanco by 10.7% in the 1st quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank's stock valued at $110,000 after purchasing an additional 1,930 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in Itau Unibanco by 13.4% during the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock worth $84,000 after buying an additional 2,000 shares in the last quarter. Finally, Union Bancaire Privee UBP SA grew its position in Itau Unibanco by 10.0% during the first quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock valued at $121,000 after buying an additional 2,000 shares during the period.

About Itau Unibanco

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.