Itau Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 34,461,089 shares, an increase of 115.0% from the April 30th total of 16,028,251 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 30,218,218 shares, the days-to-cover ratio is currently 1.1 days.
Itau Unibanco Stock Performance
Shares of NYSE ITUB traded up $0.09 during midday trading on Tuesday, hitting $7.88. The company’s stock had a trading volume of 16,407,124 shares, compared to its average volume of 25,663,164. The stock has a fifty day moving average price of $8.40 and a 200 day moving average price of $8.10. Itau Unibanco has a one year low of $5.93 and a one year high of $9.60. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 0.85 and a beta of 0.59.
Itau Unibanco (NYSE:ITUB – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. The business had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. On average, research analysts forecast that Itau Unibanco will post 0.89 EPS for the current fiscal year.
Itau Unibanco Dividend Announcement
Insiders Place Their Bets
In related news, insider Fajerman Sergio Guillinet sold 50,000 shares of Itau Unibanco stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total transaction of $469,000.00. Following the sale, the insider directly owned 1,265,119 shares in the company, valued at $11,866,816.22. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the sale, the insider owned 1,637,511 shares in the company, valued at approximately $14,442,847.02. This represents a 10.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 292,277 shares of company stock valued at $2,646,512 over the last quarter. 0.61% of the stock is owned by corporate insiders.
Institutional Trading of Itau Unibanco
A number of institutional investors have recently added to or reduced their stakes in ITUB. Orbis Allan Gray Ltd lifted its stake in shares of Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock valued at $574,053,000 after acquiring an additional 43,153,787 shares during the last quarter. Viking Global Investors LP bought a new position in Itau Unibanco in the fourth quarter worth $203,319,000. Samlyn Capital LLC bought a new position in Itau Unibanco in the third quarter worth $99,388,000. Boston Partners raised its holdings in Itau Unibanco by 1,667.7% in the third quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock worth $91,117,000 after purchasing an additional 11,711,487 shares in the last quarter. Finally, Tredje AP fonden bought a new position in Itau Unibanco in the third quarter worth $53,024,000.
Analysts Set New Price Targets
ITUB has been the subject of several recent analyst reports. Zacks Research downgraded Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. JPMorgan Chase & Co. increased their price target on Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Itau Unibanco currently has an average rating of “Moderate Buy” and an average target price of $9.00.
Read Our Latest Research Report on ITUB
Itau Unibanco Company Profile
Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.
The bank offers a full range of financial products and services across retail, commercial and wholesale banking.
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