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

Itau Unibanco (NYSE:ITUB) announced its quarterly earnings data on Tuesday, November 3rd. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. The firm had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $9.57 billion. Itau Unibanco had a net margin of 26.19% and a return on equity of 21.45%.

Itau Unibanco Price Performance

Shares of NYSE:ITUB traded down $0.21 during trading on Thursday, reaching $7.33. The company had a trading volume of 17,076,599 shares, compared to its average volume of 26,346,580. The company has a fifty day moving average of $8.48 and a two-hundred day moving average of $8.35. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $81.24 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58. Itau Unibanco has a 12 month low of $6.82 and a 12 month high of $10.20.

Insider Transactions at Itau Unibanco

In related news, insider Vanzo Orestes sold 74,643 shares of the stock in a transaction 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 owned 933,371 shares of the company’s stock, valued at $7,821,648.98. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ITUB shares. The Goldman Sachs Group reissued a “buy” rating and set a $10.50 target price (up from $9.30) on shares of Itau Unibanco in a report on Friday, October 9th. Wall Street Zen upgraded Itau Unibanco to a “hold” rating in a research report on Saturday, October 17th. HSBC cut Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price target on the stock. in a research report on Thursday, October 8th. Finally, Weiss Ratings lowered shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Itau Unibanco presently has an average rating of “Moderate Buy” and a consensus price target of $9.87.

About Itau Unibanco

Itaú Unibanco is a Brazilian financial services company headquartered in São Paulo. It was formed in 2008 through the merger of Banco Itaú and Unibanco and serves individuals, businesses and institutional clients. The company provides retail and commercial banking services, including deposit accounts, loans, credit cards and payment solutions. Its other activities include investment banking, asset and wealth management, insurance and related financial services. Itaú Unibanco operates primarily in Brazil and also has a presence in other markets in Latin America and internationally.