Itau Unibanco (NYSE:ITUB) Issues Quarterly Earnings Results

Itau Unibanco (NYSE:ITUB) posted its quarterly earnings results on Tuesday. The bank reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. The company had revenue of $9.49 billion during the quarter, compared to analyst estimates of $9.57 billion. Itau Unibanco had a return on equity of 22.06% and a net margin of 26.19%.

Itau Unibanco Price Performance

Shares of ITUB stock opened at $7.31 on Thursday. The firm has a market capitalization of $80.99 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 0.88 and a beta of 0.58. Itau Unibanco has a 12-month low of $6.82 and a 12-month high of $10.20. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.44. The firm has a fifty day moving average of $8.49 and a 200-day moving average of $8.36.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Itau Unibanco to a “hold” rating in a research report on Saturday, October 17th. 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 report on Friday, October 9th. Weiss Ratings cut Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Finally, HSBC cut Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price objective for the company. in a report on Thursday, October 8th. Three equities 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, the company presently has an average rating of “Moderate Buy” and an average target price of $9.87.

Insider Buying and Selling

In related 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 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 document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Itau Unibanco Company Profile

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.