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

Itau Unibanco logo with Finance background

Shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) 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 reiterated a "neutral" rating on shares of Itau Unibanco in a research note on Thursday.

View Our Latest Stock Report on Itau Unibanco

Itau Unibanco Price Performance

The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43. The firm has a market cap of $67.92 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76. The stock has a 50 day simple moving average of $6.61 and a 200-day simple moving average of $5.76.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. Itau Unibanco had a return on equity of 19.35% and a net margin of 11.85%. The business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $43.07 billion. Equities 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 company also recently disclosed a dividend, which will be paid on Friday, August 8th. Stockholders 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 dividend yield of 0.43%. Itau Unibanco's payout ratio is 4.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Itau Unibanco by 3,590.6% during the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank's stock valued at $29,000 after purchasing an additional 4,201 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Itau Unibanco by 31.7% during the second quarter. Parallel Advisors LLC now owns 10,195 shares of the bank's stock valued at $69,000 after purchasing an additional 2,455 shares in the last quarter. Rhumbline Advisers grew its position in shares of Itau Unibanco by 13.6% during the first quarter. Rhumbline Advisers now owns 331,474 shares of the bank's stock valued at $1,823,000 after purchasing an additional 39,776 shares in the last quarter. Strs Ohio purchased a new position in shares of Itau Unibanco during the first quarter valued at about $4,959,000. Finally, Hamilton Capital LLC lifted its holdings in shares of Itau Unibanco by 15.5% in the 1st quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock valued at $88,000 after acquiring an additional 2,163 shares during the last quarter.

Itau Unibanco Company Profile

(Get Free Report)

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.

Further Reading

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