Itaú Unibanco (NYSE:ITUB) Sees Large Volume Increase – Here’s What Happened

Itaú Unibanco Holding S.A. (NYSE:ITUB) shares saw an uptick in trading volume on Tuesday . 43,990,965 shares changed hands during mid-day trading, an increase of 144% from the previous session’s volume of 18,031,488 shares.The stock last traded at $6.37 and had previously closed at $6.08.

Analysts Set New Price Targets

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

Itaú Unibanco Price Performance

The company has a fifty day simple moving average of $6.45 and a 200-day simple moving average of $6.27. The company has a market cap of $61.65 billion, a P/E ratio of 8.00, a PEG ratio of 0.77 and a beta of 0.98. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07.

Itaú Unibanco (NYSE:ITUB) last announced its earnings results 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. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The company had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, sell-side analysts predict that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ITUB. William Blair Investment Management LLC grew its position in Itaú Unibanco by 191.9% in the 1st quarter. William Blair Investment Management LLC now owns 33,040,433 shares of the bank’s stock worth $228,968,000 after purchasing an additional 21,720,091 shares during the last quarter. Capital Research Global Investors grew its holdings in Itaú Unibanco by 460.6% during the 1st quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock worth $105,766,000 after acquiring an additional 12,539,737 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Itaú Unibanco by 200.4% in the second quarter. Marshall Wace LLP now owns 7,679,311 shares of the bank’s stock worth $44,847,000 after acquiring an additional 5,122,752 shares during the last quarter. Capital World Investors increased its holdings in Itaú Unibanco by 64.4% in the first quarter. Capital World Investors now owns 8,654,237 shares of the bank’s stock valued at $59,974,000 after purchasing an additional 3,390,463 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Itaú Unibanco by 77.5% during the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock worth $41,549,000 after buying an additional 3,106,130 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.