Itaú Unibanco (NYSE:ITUB) Shares Up 3.3% – Still a Buy?

Itaú Unibanco Holding S.A. (NYSE:ITUB) traded up 3.3% during mid-day trading on Thursday . The stock traded as high as $5.71 and last traded at $5.72. 1,790,045 shares were traded during mid-day trading, a decline of 92% from the average session volume of 23,449,733 shares. The stock had previously closed at $5.53.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ITUB shares. Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. UBS Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, HSBC upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 target price on the stock in a research report on Monday, January 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $6.27.

Itaú Unibanco Stock Performance

The firm’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $5.29. The company has a market capitalization of $57.57 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. On average, research analysts predict that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itaú Unibanco Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.0527 per share. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date was Wednesday, February 19th. Itaú Unibanco’s payout ratio is 2.82%.

Institutional Trading of Itaú Unibanco

A number of hedge funds have recently added to or reduced their stakes in ITUB. Metis Global Partners LLC lifted its holdings in Itaú Unibanco by 7.4% during the fourth quarter. Metis Global Partners LLC now owns 27,876 shares of the bank’s stock valued at $138,000 after purchasing an additional 1,925 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in shares of Itaú Unibanco by 13.4% during the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank’s stock worth $84,000 after purchasing an additional 2,000 shares in the last quarter. Fielder Capital Group LLC raised its position in shares of Itaú Unibanco by 13.2% during the 4th quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank’s stock worth $85,000 after purchasing an additional 2,001 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Itaú Unibanco by 16.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock valued at $103,000 after buying an additional 2,250 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Itaú Unibanco by 18.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank’s stock worth $98,000 after buying an additional 3,089 shares during the last quarter.

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.