Itaú Unibanco (NYSE:ITUB) Posts Earnings Results, Beats Expectations By $0.01 EPS

Itaú Unibanco (NYSE:ITUB) released its earnings results on Tuesday. The bank reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.72 billion. During the same period in the previous year, the firm earned $0.18 EPS.

Itaú Unibanco Trading Up 3.9 %

Shares of ITUB stock traded up $0.24 during trading hours on Friday, reaching $6.28. 20,031,657 shares of the stock traded hands, compared to its average volume of 17,366,887. Itaú Unibanco has a 1-year low of $5.12 and a 1-year high of $7.27. The business has a fifty day moving average price of $5.99 and a 200 day moving average price of $6.39. 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 firm has a market capitalization of $61.50 billion, a PE ratio of 8.47, a PEG ratio of 0.72 and a beta of 0.97.

Itaú Unibanco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.0031 per share. The ex-dividend date 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 currently 4.05%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded 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.