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

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

Itau Unibanco Stock Down 2.9%

NYSE ITUB opened at $8.19 on Thursday. Itau Unibanco has a 12 month low of $6.54 and a 12 month high of $9.60. The company has a market capitalization of $90.66 billion, a P/E ratio of 10.71, a PEG ratio of 1.05 and a beta of 0.56. The company’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $8.16. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08.

Insider Transactions at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of the company’s 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 approximately $7,821,648.98. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITUB. JPMorgan Chase & Co. increased their target price 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. Weiss Ratings lowered shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently 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.