Itaú Unibanco (NYSE:ITUB) Posts Quarterly Earnings Results

Itaú Unibanco (NYSE:ITUB) released its quarterly earnings data on Tuesday. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01, Zacks reports. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. The business had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. During the same quarter in the prior year, the firm earned $0.18 EPS.

Itaú Unibanco Stock Up 3.9 %

Shares of NYSE ITUB traded up $0.24 during midday trading on Friday, reaching $6.28. 20,031,657 shares of the company’s stock traded hands, compared to its average volume of 17,366,887. The company has a market cap of $61.50 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.72 and a beta of 0.97. Itaú Unibanco has a one year low of $5.12 and a one year high of $7.27. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 2.37. The stock’s 50 day simple moving average is $5.99 and its 200-day simple moving average is $6.39.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.0031 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.59%. Itaú Unibanco’s dividend payout ratio is presently 4.05%.

Analyst Upgrades and Downgrades

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

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.