Itaú Unibanco (NYSE:ITUB) Shares Gap Down to $5.96

Itaú Unibanco Holding S.A. (NYSE:ITUB)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $5.96, but opened at $5.82. Itaú Unibanco shares last traded at $5.84, with a volume of 2,352,651 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th.

Itaú Unibanco Stock Down 2.0 %

The company has a debt-to-equity ratio of 2.37, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $57.24 billion, a P/E ratio of 8.06, a PEG ratio of 0.75 and a beta of 0.98. The company has a 50 day moving average of $6.15 and a 200-day moving average of $6.55.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Monday, May 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. As a group, equities analysts anticipate that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current year.

Itaú Unibanco Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, June 24th will be issued a $0.0478 dividend. The ex-dividend date of this dividend is Monday, June 24th. This is a positive change from Itaú Unibanco’s previous Variable dividend of $0.00. Itaú Unibanco’s dividend payout ratio (DPR) is 51.35%.

Institutional Trading of Itaú Unibanco

Several institutional investors and hedge funds have recently bought and sold shares of ITUB. William Blair Investment Management LLC lifted its holdings in Itaú Unibanco by 191.9% in the first quarter. William Blair Investment Management LLC now owns 33,040,433 shares of the bank’s stock worth $228,968,000 after buying an additional 21,720,091 shares during the period. Fisher Asset Management LLC lifted its holdings in Itaú Unibanco by 43.7% in the fourth quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after buying an additional 15,908,536 shares during the period. Carmignac Gestion purchased a new stake in Itaú Unibanco in the fourth quarter worth about $92,644,000. Capital Research Global Investors lifted its holdings in Itaú Unibanco by 460.6% in the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock worth $105,766,000 after buying an additional 12,539,737 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of Itaú Unibanco during the fourth quarter valued at approximately $23,769,000.

Itaú 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.