Key Points
- Insider sale: Rodrigues Andre Luis Teixeira sold 182,800 shares on April 8 at an average of $8.82 for a total of $1,612,296, reducing his stake by 10.04% to 1,637,511 shares (SEC filing).
- Earnings miss: Itau reported Q earnings of $0.17 per share versus $0.20 expected and revenue of $8.62B versus $8.98B, though the bank still shows a 20.83% ROE and a 20.64% net margin; analysts expect ~0.8 EPS for the year.
- Dividend and sentiment: The bank declared a special dividend of $0.068 (record/ex-dividend March 23, payable Sept 8) and carries a consensus "Moderate Buy" with an average target of $9, including a JPMorgan raise to $9.
Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total value of $1,612,296.00. Following the completion of the sale, the insider owned 1,637,511 shares in the company, valued at approximately $14,442,847.02. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Itau Unibanco Trading Up 1.7%
Shares of NYSE ITUB opened at $9.17 on Friday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.58 and a current ratio of 1.79. The business's 50 day moving average price is $8.64 and its 200-day moving average price is $7.75. Itau Unibanco Holding S.A. has a fifty-two week low of $5.19 and a fifty-two week high of $9.60. The company has a market cap of $101.51 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.99 and a beta of 0.65.
Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%.The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.98 billion. On average, sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.
Itau Unibanco Announces Dividend
The firm also recently declared a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, March 23rd will be issued a $0.068 dividend. The ex-dividend date is Monday, March 23rd. Itau Unibanco's dividend payout ratio is presently 4.29%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GQG Partners LLC increased its holdings in shares of Itau Unibanco by 6.3% in the 4th quarter. GQG Partners LLC now owns 96,959,405 shares of the bank's stock valued at $694,229,000 after acquiring an additional 5,737,696 shares during the period. Orbis Allan Gray Ltd increased its holdings 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 period. Schroder Investment Management Group increased its holdings in shares of Itau Unibanco by 4.9% in the 3rd quarter. Schroder Investment Management Group now owns 74,529,975 shares of the bank's stock valued at $546,305,000 after acquiring an additional 3,511,303 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Itau Unibanco by 3.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 63,525,566 shares of the bank's stock valued at $454,843,000 after acquiring an additional 2,394,121 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Itau Unibanco by 1.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 58,581,150 shares of the bank's stock valued at $419,441,000 after acquiring an additional 956,962 shares during the period.
Analysts Set New Price Targets
Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Itau Unibanco from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Weiss Ratings restated a "buy (b)" rating on shares of Itau Unibanco in a report on Monday, December 29th. Finally, Zacks Research downgraded Itau Unibanco from a "strong-buy" rating to a "hold" rating in a report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.00.
Get Our Latest Report on ITUB
Itau Unibanco Company Profile
(
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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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