Itau Unibanco (NYSE:ITUB) Announces Earnings Results

Itau Unibanco (NYSE:ITUB) released 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 net margin of 26.41% and a return on equity of 21.40%. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.29 billion.

Itau Unibanco Stock Performance

Itau Unibanco stock traded down $0.10 during midday trading on Friday, hitting $8.19. The company’s stock had a trading volume of 19,478,425 shares, compared to its average volume of 21,160,168. Itau Unibanco has a 1-year low of $6.54 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50-day moving average price of $8.02 and a two-hundred day moving average price of $8.17. The company has a market cap of $90.66 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.04 and a beta of 0.56.

Insider Activity

In other news, insider Vanzo Orestes sold 74,643 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total transaction of $625,508.34. Following the transaction, the insider directly owned 933,371 shares of the company’s stock, valued at approximately $7,821,648.98. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ITUB has been the topic of a number of recent analyst reports. Weiss Ratings lowered Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Itau Unibanco presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Itau Unibanco Company Profile

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.