Itaú Unibanco (NYSE:ITUB) Shares Gap Up – What’s Next?

Itaú Unibanco Holding S.A. (NYSE:ITUB)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $5.94, but opened at $6.13. Itaú Unibanco shares last traded at $6.14, with a volume of 2,742,432 shares.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd.

Itaú Unibanco Stock Performance

The stock has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $6.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $61.65 billion, a price-to-earnings ratio of 8.28, a P/E/G ratio of 0.77 and a beta of 0.98.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. During the same period in the prior year, the company earned $0.18 EPS. Analysts expect that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is 3.95%.

Hedge Funds Weigh In On Itaú Unibanco

A number of hedge funds have recently bought and sold shares of ITUB. Van ECK Associates Corp lifted its stake in Itaú Unibanco by 68.5% in the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank’s stock valued at $38,000 after buying an additional 2,469 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Itaú Unibanco by 571.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after acquiring an additional 5,862 shares during the period. Bessemer Group Inc. bought a new stake in shares of Itaú Unibanco during the first quarter valued at approximately $49,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Itaú Unibanco during the second quarter worth approximately $65,000. Finally, Daymark Wealth Partners LLC bought a new position in shares of Itaú Unibanco in the 3rd quarter worth $68,000.

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.