Itau Unibanco (NYSE:ITUB) Posts Quarterly Earnings Results

Itau Unibanco (NYSE:ITUB) issued its earnings results on Tuesday. The bank reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22, FiscalAI reports. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. The firm had revenue of $9.49 billion for the quarter, compared to analyst estimates of $9.57 billion.

Itau Unibanco Stock Performance

ITUB stock traded down $0.17 during midday trading on Tuesday, reaching $7.00. 26,348,904 shares of the company’s stock traded hands, compared to its average volume of 26,381,842. The firm has a market capitalization of $77.48 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.92 and a beta of 0.50. The company has a 50-day moving average price of $8.51 and a two-hundred day moving average price of $8.36. Itau Unibanco has a 52 week low of $6.82 and a 52 week high of $10.20. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08.

Analysts Set New Price Targets

ITUB has been the subject of several research reports. Weiss Ratings downgraded Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $10.50 price objective (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. HSBC downgraded shares of Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price objective on the stock. in a report on Thursday, October 8th. Wall Street Zen raised shares of Itau Unibanco to a “hold” rating in a report on Saturday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.87.

Insider Activity at Itau Unibanco

In other news, insider Vanzo Orestes sold 74,643 shares of the firm’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 completion of the transaction, the insider directly owned 933,371 shares of the company’s stock, valued at $7,821,648.98. This trade 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 at the SEC website. 0.61% of the stock is owned by insiders.

About Itau Unibanco

Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.