Short Interest in Itaú Unibanco Holding S.A. (NYSE:ITUB) Declines By 19.6%

Itaú Unibanco Holding S.A. (NYSE:ITUB) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 20,100,000 shares, a decrease of 19.6% from the August 15th total of 25,000,000 shares. Based on an average trading volume of 35,920,000 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the company’s shares are short sold.

A number of hedge funds have recently made changes to their positions in ITUB. First Trust Advisors LP grew its holdings in Itaú Unibanco by 4.9% during the 1st quarter. First Trust Advisors LP now owns 172,951 shares of the bank’s stock worth $1,524,000 after acquiring an additional 8,040 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Itaú Unibanco by 24.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 326,500 shares of the bank’s stock worth $2,877,000 after acquiring an additional 63,300 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Itaú Unibanco by 55.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,771,281 shares of the bank’s stock worth $13,746,000 after acquiring an additional 990,636 shares in the last quarter. M&T Bank Corp grew its holdings in Itaú Unibanco by 61.1% during the 1st quarter. M&T Bank Corp now owns 47,580 shares of the bank’s stock worth $237,000 after acquiring an additional 18,054 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Itaú Unibanco by 12.5% during the 1st quarter. Fifth Third Bancorp now owns 506,060 shares of the bank’s stock worth $2,510,000 after acquiring an additional 56,182 shares in the last quarter. 4.29% of the stock is owned by institutional investors.

ITUB traded up $0.14 during trading hours on Wednesday, reaching $5.24. 389,489 shares of the stock traded hands, compared to its average volume of 38,527,750. The firm’s fifty day simple moving average is $5.67 and its two-hundred day simple moving average is $5.51. The company has a market cap of $51.35 billion, a price-to-earnings ratio of 9.62 and a beta of 0.83. Itaú Unibanco has a fifty-two week low of $3.88 and a fifty-two week high of $6.76. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.48 and a quick ratio of 1.48.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Monday, August 2nd. The bank reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The business had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.19 billion. Itaú Unibanco had a net margin of 17.21% and a return on equity of 17.09%. On average, research analysts predict that Itaú Unibanco will post 0.51 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 12th. Shareholders of record on Monday, October 4th will be issued a dividend of $0.0029 per share. This is a positive change from Itaú Unibanco’s previous monthly dividend of $0.00. This represents a $0.03 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, October 1st. Itaú Unibanco’s dividend payout ratio (DPR) is currently 7.50%.

Separately, Zacks Investment Research raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Thursday, July 29th.

Itaú Unibanco Company Profile

Itaú Unibanco Holding SA provides financial products and services to individual and corporate clients in Brazil and abroad. It operates through the following segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. The Retail Banking segment includes credit cards, asset management, insurance, pension plan and capitalization products, and a variety of credit products and services for individuals and small companies.

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