Insider Selling: Itau Unibanco (NYSE:ITUB) Insider Sells $494,400.00 in Stock

Itau Unibanco Holding S.A. (NYSE:ITUB) insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the transaction, the insider owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Itau Unibanco Price Performance

ITUB stock traded down $0.07 during midday trading on Wednesday, reaching $8.15. 25,140,481 shares of the stock were exchanged, compared to its average volume of 25,237,127. The stock has a market capitalization of $90.33 billion, a PE ratio of 11.18, a P/E/G ratio of 0.89 and a beta of 0.58. Itau Unibanco Holding S.A. has a 52 week low of $5.93 and a 52 week high of $9.60. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. The company has a fifty day moving average price of $8.02 and a 200 day moving average price of $8.21.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. As a group, analysts expect that Itau Unibanco Holding S.A. will post 0.89 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be paid a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is currently 4.11%.

Analysts Set New Price Targets

ITUB has been the topic of several recent research reports. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. raised their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Itau Unibanco presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Hedge Funds Weigh In On Itau Unibanco

A number of hedge funds have recently made changes to their positions in ITUB. Kestra Advisory Services LLC acquired a new position in shares of Itau Unibanco in the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its position in Itau Unibanco by 332.4% during the 2nd 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. Farther Finance Advisors LLC increased its position in Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock valued at $48,000 after purchasing an additional 1,901 shares during the period. Community Bank N.A. bought a new position in Itau Unibanco during the third quarter worth $57,000. Finally, V Square Quantitative Management LLC bought a new position in Itau Unibanco during the first quarter worth $59,000.

About Itau Unibanco

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.