Itau Unibanco (NYSE:ITUB) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Itau Unibanco (NYSE:ITUB) released its quarterly earnings data on Tuesday. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%.

Itau Unibanco Trading Down 3.6%

Itau Unibanco stock traded down $0.30 during trading on Tuesday, hitting $8.19. The company had a trading volume of 16,827,417 shares, compared to its average volume of 24,331,441. The stock has a market cap of $90.66 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.53. Itau Unibanco has a 1-year low of $6.21 and a 1-year high of $9.60. The company’s 50 day simple moving average is $8.10 and its 200-day simple moving average is $8.38.

Itau Unibanco Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be issued a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s dividend payout ratio (DPR) is 4.11%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ITUB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. JPMorgan Chase & Co. increased their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Activity at Itau Unibanco

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares in the company, valued at $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Itau Unibanco

Hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new stake in Itau Unibanco during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after purchasing an additional 5,355 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after purchasing an additional 7,436 shares during the period. Syon Capital LLC acquired a new position in shares of Itau Unibanco in the fourth quarter valued at approximately $72,000. Finally, Arax Advisory Partners grew its holdings in shares of Itau Unibanco by 1,768.5% in the fourth quarter. Arax Advisory Partners now owns 10,314 shares of the bank’s stock valued at $74,000 after purchasing an additional 9,762 shares in the last quarter.

Itau Unibanco Company Profile

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.