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

Itaú Unibanco Holding S.A. (NYSE:ITUB) 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.

Wall Street Analyst Weigh In

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 Performance

The company has a market capitalization of $57.83 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.74 and a beta of 0.98. 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’s 50-day moving average price is $6.15 and its two-hundred day moving average price is $6.54.

Itaú Unibanco (NYSE:ITUB) last announced its earnings results on Monday, May 6th. The bank reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.34 billion. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. On average, equities research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, June 24th will be given a dividend of $0.0478 per share. This is a positive change from Itaú Unibanco’s previous Variable dividend of $0.00. The ex-dividend date of this dividend is Monday, June 24th. Itaú Unibanco’s dividend payout ratio is presently 51.35%.

Institutional Trading of Itaú Unibanco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its stake in shares of Itaú Unibanco by 20.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock worth $20,220,000 after purchasing an additional 504,500 shares during the last quarter. Capital World Investors grew its position in Itaú Unibanco by 64.4% in the 1st quarter. Capital World Investors now owns 8,654,237 shares of the bank’s stock worth $59,974,000 after purchasing an additional 3,390,463 shares in the last quarter. Capital Research Global Investors increased its stake in Itaú Unibanco by 460.6% in the 1st quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock valued at $105,766,000 after buying an additional 12,539,737 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in shares of Itaú Unibanco during the 1st quarter worth approximately $117,000. Finally, Bessemer Group Inc. purchased a new position in shares of Itaú Unibanco in the 1st quarter worth approximately $49,000.

About Itaú 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.