Itau Unibanco (NYSE:ITUB) Issues Quarterly Earnings Results

Itau Unibanco (NYSE:ITUB) announced its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01), Zacks reports. The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.

Itau Unibanco Stock Up 0.4%

Itau Unibanco stock traded up $0.04 during midday trading on Tuesday, hitting $8.27. 18,294,783 shares of the company were exchanged, compared to its average volume of 24,084,807. The company’s fifty day moving average price is $8.02 and its 200-day moving average price is $8.19. The company has a market cap of $91.55 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. Itau Unibanco has a fifty-two week low of $6.54 and a fifty-two week high of $9.60.

Insider Buying and Selling at Itau Unibanco

In other news, insider Vanzo Orestes sold 74,643 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total value of $625,508.34. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ITUB. Weiss Ratings downgraded shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

About Itau Unibanco

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.