Key Points
- Insider sale: Fajerman Sergio Guillinet sold 50,000 Itau Unibanco shares on April 14 at an average price of $9.38 for $469,000, reducing his holding by 3.8% to 1,265,119 shares (SEC filing).
- Earnings miss: The bank reported quarterly EPS of $0.17 versus $0.20 expected and revenue of $8.62B versus $8.98B expected, though net margin (20.64%) and return on equity (20.83%) remain strong.
- Dividend and analyst view: Itau announced a special dividend of $0.068 per share payable Sept. 8, and analysts hold a consensus "Moderate Buy" with a $9.00 price target (JPMorgan raised its target to $9 and an overweight rating).
Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) insider Fajerman Sergio Guillinet sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $9.38, for a total transaction of $469,000.00. Following the sale, the insider owned 1,265,119 shares in the company, valued at $11,866,816.22. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Itau Unibanco Stock Down 0.5%
Shares of NYSE:ITUB opened at $9.35 on Friday. Itau Unibanco Holding S.A. has a fifty-two week low of $5.37 and a fifty-two week high of $9.60. The firm's 50 day moving average price is $8.69 and its 200 day moving average price is $7.81. The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of 2.61. The stock has a market cap of $103.51 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.03 and a beta of 0.65.
Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The firm had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.98 billion. As a group, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.
Itau Unibanco Dividend Announcement
The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be paid a dividend of $0.068 per share. The ex-dividend date is Monday, March 23rd. Itau Unibanco's payout ratio is presently 4.29%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ITUB. SG Americas Securities LLC raised its stake in Itau Unibanco by 187.8% during the 1st quarter. SG Americas Securities LLC now owns 101,879 shares of the bank's stock worth $854,000 after acquiring an additional 66,484 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Itau Unibanco by 6.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 701,153 shares of the bank's stock valued at $5,876,000 after acquiring an additional 42,221 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Itau Unibanco by 2.7% during the fourth quarter. Hsbc Holdings PLC now owns 4,968,641 shares of the bank's stock worth $35,557,000 after purchasing an additional 130,998 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Itau Unibanco by 498.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 40,594 shares of the bank's stock worth $291,000 after purchasing an additional 33,816 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Itau Unibanco by 35.0% during the fourth quarter. Corient Private Wealth LLC now owns 55,542 shares of the bank's stock worth $398,000 after purchasing an additional 14,411 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ITUB. JPMorgan Chase & Co. raised their price target on Itau Unibanco from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Itau Unibanco in a research report on Monday, December 29th. Finally, Zacks Research lowered Itau Unibanco from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.
Get Our Latest Analysis on ITUB
Itau Unibanco Company Profile
(
Get Free Report)
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.
Further Reading
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