Short Interest in Itaú Unibanco Holding S.A. (NYSE:ITUB) Increases By 24.4%

Itaú Unibanco Holding S.A. (NYSE:ITUB) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 25,890,000 shares, a growth of 24.4% from the March 31st total of 20,820,000 shares. Based on an average daily volume of 17,530,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Itaú Unibanco

Several institutional investors have recently added to or reduced their stakes in ITUB. Bruce G. Allen Investments LLC purchased a new stake in Itaú Unibanco in the 4th quarter worth approximately $36,000. Sapient Capital LLC bought a new stake in Itaú Unibanco in the fourth quarter valued at $186,000. Raymond James & Associates increased its position in Itaú Unibanco by 7.1% during the 4th quarter. Raymond James & Associates now owns 341,799 shares of the bank’s stock valued at $2,376,000 after purchasing an additional 22,726 shares during the period. Trexquant Investment LP bought a new position in Itaú Unibanco in the 3rd quarter worth $3,083,000. Finally, Caprock Group LLC lifted its position in shares of Itaú Unibanco by 25.4% in the 4th quarter. Caprock Group LLC now owns 26,652 shares of the bank’s stock worth $187,000 after purchasing an additional 5,401 shares during the period.

Itaú Unibanco Trading Down 3.2 %

Shares of NYSE:ITUB traded down $0.20 on Tuesday, reaching $6.03. 24,740,224 shares of the company traded hands, compared to its average volume of 17,281,008. Itaú Unibanco has a 52 week low of $4.85 and a 52 week high of $7.27. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25. The business’s 50-day simple moving average is $6.64 and its 200 day simple moving average is $6.48.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Monday, February 5th. The bank reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Analysts expect that Itaú Unibanco will post 0.82 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be issued a dividend of $0.003 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.60%. Itaú Unibanco’s dividend payout ratio is currently 5.88%.

Analyst Upgrades and Downgrades

ITUB has been the topic of a number of research reports. HSBC cut Itaú Unibanco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, January 16th.

Itaú Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.