Itau Unibanco (NYSE:ITUB) Announces Quarterly Earnings Results

Itau Unibanco (NYSE:ITUB) released its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.29 billion.

Itau Unibanco Price Performance

Shares of NYSE:ITUB traded up $0.01 during midday trading on Friday, hitting $8.10. The company had a trading volume of 15,929,427 shares, compared to its average volume of 20,526,484. Itau Unibanco has a twelve month low of $6.54 and a twelve month high of $9.60. The stock has a market cap of $89.66 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.01 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. The business’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $8.16.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITUB. JPMorgan Chase & Co. boosted their target price on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings cut shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Itau Unibanco presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Insider Transactions at Itau Unibanco

In related news, insider Vanzo Orestes sold 74,643 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total transaction of $625,508.34. Following the completion of the sale, the insider directly owned 933,371 shares in the company, valued at approximately $7,821,648.98. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

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.