Itau Unibanco (NYSE:ITUB) Shares Gap Down - Here's What Happened

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.65, but opened at $6.45. Itau Unibanco shares last traded at $6.40, with a volume of 8,009,994 shares.

Wall Street Analysts Forecast Growth

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

Itau Unibanco Price Performance

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 company has a market capitalization of $67.92 billion, a PE ratio of 8.91, a PEG ratio of 1.03 and a beta of 0.76. The firm has a 50-day moving average of $6.61 and a 200 day moving average of $5.73.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its 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. Itau Unibanco had a net margin of 11.85% and a return on equity of 19.35%. The company had revenue of $7.93 billion for the quarter, compared to analysts' expectations of $43.07 billion. As a group, research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.0024 per share. This represents a dividend yield of 0.43%. The ex-dividend date is Wednesday, July 2nd. Itau Unibanco's dividend payout ratio is presently 4.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in shares of Itau Unibanco by 3,590.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank's stock worth $29,000 after acquiring an additional 4,201 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Itau Unibanco during the 4th quarter valued at $35,000. Parallel Advisors LLC raised its position in shares of Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock valued at $43,000 after purchasing an additional 6,781 shares during the period. Alta Capital Management LLC bought a new stake in shares of Itau Unibanco during the 1st quarter valued at $62,000. Finally, Ieq Capital LLC bought a new stake in shares of Itau Unibanco during the 1st quarter valued at $64,000.

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.