Itau Unibanco Holding S.A. (ITUB) is a provider of financial products and services globally. The company offers various deposit products, loans and credit cards, real estate lending services, and foreign exchange services. The company also provides insurance services to its clients.
The price of ITUB stock during the early trading on February 11, 2022 was last checked to be $5.07 with a 7.87% increase.
ITUB: Events and Happenings
On February 10, 2022, ITUB reported about its projections for 2022 in connection with the provision in item 11 of the Reference Form to its stockholders. The company made the projections in compliance with Article 157 of the Brazilian Securities and Exchange Commission.
On February 10, 2022, ITUB informed to its shareholders had resolved on the payment of interest on capital in the amount of R$0.013660 per share. The decision was made after examination and approval by its BoDs of the financial statements for the FY21. The proceeding resulted in the net interest of R$0.01 per share. Shareholders will be paid on March 11, 2022.
On Feb. 3, 2022, ITUB updated that the Q4 2021 financials will be disclosed soon. The results will be made public on the company’s website on February 10, 2022. On January 13, 2022, ITUB announced about its entry into a contract with Ideal Holding Financeira S.A. for the acquisition of 100% of Ideal´s capital stock. During the first phase, ITUB will acquire 50.1% of Ideal´s voting capital totaling R$650 million. During the second phase ITUB will have the right to buy the remaining shares of its capital stock.
ITUB: Key Financials
On Oct. 25, 2021, ITUB released its financial results for third quarter 2021 ended September 30, 2021. Some of the highlights are mentioned here.
EPS
Basic and diluted net income per share in the Q3 2021 was R$6.39 million or R$0.62 compared to R$5.09 million or R$0.49 (basic) and R$0.48 (diluted) in the same period of 2020. The net income increased over the period of the year. The company’s EPS missed the analysts’ estimates by $0.01 per share.
Revenue
Operating revenues in Q3 2021 was R$30.5 million compared to R$25.8 million in the same period of 2020. The company beat the analysts’ estimates by $240.4 million.
Conclusion
ITUB is 19% up the past year as it outperformed in all the sectors. The current stock surge in early trading is the likely outcome of its announcement regarding payment of interest on capital and company’s 2022 projections.
