Itau Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $9.67, but opened at $7.47. Itau Unibanco shares last traded at $7.3890, with a volume of 26,182,258 shares.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ITUB. JPMorgan Chase & Co. boosted their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Itau Unibanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. HSBC lowered Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price target on the stock. in a research note on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a report on Friday, October 9th. Finally, Wall Street Zen raised shares of Itau Unibanco to a “hold” rating in a report on Saturday, October 17th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.87.
Read Our Latest Analysis on ITUB
Itau Unibanco Price Performance
The company has a 50-day moving average of $8.52 and a 200 day moving average of $8.33. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $83.21 billion, a PE ratio of 9.83, a PEG ratio of 1.20 and a beta of 0.50.
Itau Unibanco (NYSE:ITUB – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Sell-side analysts predict that Itau Unibanco Holding S.A. will post 0.88 EPS for the current year.
Insider Buying and Selling at Itau Unibanco
In other news, insider Vanzo Orestes sold 74,643 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total value of $625,508.34. Following the sale, the insider directly owned 933,371 shares in the company, valued at approximately $7,821,648.98. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.
Hedge Funds Weigh In On Itau Unibanco
A number of institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Itau Unibanco in the first quarter valued at approximately $59,000. EverSource Wealth Advisors LLC increased its holdings in shares of Itau Unibanco by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,306 shares during the period. Resonant Capital Advisors LLC purchased a new position in Itau Unibanco during the 1st quarter worth $89,000. Axxcess Wealth Management LLC purchased a new position in Itau Unibanco during the third quarter worth about $93,000. Finally, Farther Finance Advisors LLC raised its holdings in Itau Unibanco by 39.7% during the third quarter. Farther Finance Advisors LLC now owns 12,892 shares of the bank’s stock worth $110,000 after purchasing an additional 3,661 shares in the last quarter.
About Itau Unibanco
Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.
Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.
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