Itau Unibanco (NYSE:ITUB) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Itau Unibanco (NYSE:ITUB) announced its quarterly earnings results 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. Itau Unibanco had a return on equity of 22.06% and a net margin of 26.19%. The company had revenue of $9.49 billion for the quarter, compared to analyst estimates of $9.57 billion.

Itau Unibanco Trading Down 1.4%

NYSE:ITUB traded down $0.10 during trading hours on Thursday, hitting $7.17. 9,275,636 shares of the company were exchanged, compared to its average volume of 26,306,904. The stock has a market capitalization of $79.47 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.88 and a beta of 0.58. Itau Unibanco has a one year low of $6.82 and a one year high of $10.20. The company has a fifty day simple moving average of $8.49 and a 200 day simple moving average of $8.36. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44.

Insider Activity 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 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 approximately $7,821,648.98. The trade was a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

ITUB has been the topic of a number of research reports. Weiss Ratings lowered Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. HSBC lowered Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price target on the stock. in a research note on Thursday, October 8th. The Goldman Sachs Group restated a “buy” rating and set a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a report on Friday, October 9th. Finally, Wall Street Zen raised Itau Unibanco to a “hold” rating in a research note on Saturday, October 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.