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

Itau Unibanco (NYSE:ITUB) issued its quarterly earnings data on Tuesday. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01), Zacks reports. The business had revenue of $9.49 billion for the quarter, compared to analyst estimates of $9.57 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.

Itau Unibanco Trading Up 1.2%

Shares of NYSE:ITUB traded up $0.09 during midday trading on Wednesday, reaching $7.13. The company had a trading volume of 11,054,254 shares, compared to its average volume of 26,293,090. The company has a fifty day simple moving average of $8.50 and a two-hundred day simple moving average of $8.36. The firm has a market cap of $79.03 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. Itau Unibanco has a 1-year low of $6.82 and a 1-year 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.

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 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 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 available through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings cut Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and issued a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. HSBC lowered Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price target on the stock. in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Itau Unibanco to a “hold” rating in a research note on Saturday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.87.

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.