Key Points
- Insider sale: Vanzo Carlos Orestes sold 74,643 Itau Unibanco shares at an average price of $8.38, generating $625,508. After the transaction, his stake fell 7.4% to 933,371 shares.
- Financial performance: Itau Unibanco reported quarterly EPS of $0.21, slightly below the $0.22 consensus estimate, while revenue of $9.27 billion also narrowly missed expectations.
- Analyst outlook: The stock has a “Moderate Buy” consensus rating and a $10 average price target, compared with a recent opening price of $8.09.
Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) insider Vanzo Orestes sold 74,643 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 933,371 shares in the company, valued at approximately $7,821,648.98. This represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Vanzo Carlos Orestes also recently made the following trade(s):
- On Tuesday, July 7th, Vanzo Orestes sold 60,000 shares of Itau Unibanco stock. The shares were sold at an average price of $8.24, for a total value of $494,400.00.
Itau Unibanco Stock Performance
ITUB stock opened at $8.09 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. The firm has a market cap of $89.55 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.91 and a beta of 0.56. Itau Unibanco Holding S.A. has a 12-month low of $6.54 and a 12-month high of $9.60. The stock's 50 day simple moving average is $8.02 and its 200 day simple moving average is $8.21.
Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. As a group, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.87 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.00.
Get Our Latest Research Report on Itau Unibanco
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Itau Unibanco by 155.5% in the 1st quarter. Bank of America Corp DE now owns 10,522,224 shares of the bank's stock worth $88,176,000 after acquiring an additional 6,404,438 shares during the period. William Blair Investment Management LLC increased its stake in shares of Itau Unibanco by 24.0% during the fourth quarter. William Blair Investment Management LLC now owns 36,551,763 shares of the bank's stock valued at $261,679,000 after acquiring an additional 7,081,568 shares during the period. Daiwa Securities Group Inc. raised its holdings in Itau Unibanco by 386.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,065,538 shares of the bank's stock worth $7,629,000 after purchasing an additional 846,456 shares in the last quarter. Franklin Resources Inc. raised its holdings in Itau Unibanco by 6.3% during the fourth quarter. Franklin Resources Inc. now owns 32,465,077 shares of the bank's stock worth $232,450,000 after purchasing an additional 1,925,708 shares in the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd lifted its position in Itau Unibanco by 81.2% in the fourth quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 1,737,000 shares of the bank's stock worth $12,437,000 after purchasing an additional 778,500 shares during the period.
Itau Unibanco Company Profile
(
Get Free Report)
Itaú Unibanco Holding SA is one of Brazil's largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.
The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.
Further Reading
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