Itau Unibanco (NYSE:ITUB) Announces Earnings Results

Itau Unibanco (NYSE:ITUB) released its quarterly earnings data on Tuesday. The bank reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22, FiscalAI reports. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. The company had revenue of $9.49 billion for the quarter, compared to analysts’ expectations of $9.57 billion.

Itau Unibanco Trading Down 2.4%

Shares of NYSE:ITUB traded down $0.17 during trading on Tuesday, reaching $7.00. The company’s stock had a trading volume of 26,348,900 shares, compared to its average volume of 26,381,838. The stock 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 current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. The firm’s 50 day simple moving average is $8.51 and its two-hundred day simple moving average is $8.36. Itau Unibanco has a 12 month low of $6.82 and a 12 month high of $10.20.

Insider Activity

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of the 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 sale, the insider owned 933,371 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ITUB shares. The Goldman Sachs Group restated a “buy” rating and set a $10.50 price objective (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings cut Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. HSBC lowered shares of 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. Finally, Wall Street Zen upgraded Itau Unibanco to a “hold” rating in a report on Saturday, October 17th. Three investment analysts have rated the stock with a Buy rating and two have assigned 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.

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.