Itau Unibanco (NYSE:ITUB) Releases Earnings Results, Hits Expectations

Key Points

• Itaú Unibanco met earnings expectations, reporting EPS of $0.22, while quarterly revenue of $9.49 billion came in below the $9.57 billion analyst estimate. Net margin was 26.41% and return on equity was 21.40%.
• Shares fell $0.17 to $7.00 during Tuesday’s trading session.
• Analyst views were mixed, but the stock carried a “Moderate Buy” consensus rating and an average price target of $9.87.

Itau Unibanco (NYSE:ITUB - Get Free Report) posted its earnings results on Tuesday. The bank reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22, FiscalAI reports. The firm had revenue of $9.49 billion during the quarter, compared to analyst estimates of $9.57 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%.

Itau Unibanco Stock Performance

ITUB stock traded down $0.17 during trading hours on Tuesday, hitting $7.00. 26,348,900 shares of the stock were exchanged, compared to its average volume of 26,381,838. Itau Unibanco has a 12 month low of $6.82 and a 12 month high of $10.20. The firm has a market capitalization of $77.48 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.92 and a beta of 0.50. The company has a 50-day simple moving average of $8.51 and a two-hundred 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.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ITUB shares. HSBC downgraded Itau Unibanco from a "buy" rating to a "hold" rating and set a $9.10 price objective for the company. in a research report on Thursday, October 8th. Weiss Ratings downgraded shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a report on Friday, October 9th. Wall Street Zen raised shares of Itau Unibanco to a "hold" rating in a report on Saturday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Itau Unibanco has a consensus rating of "Moderate Buy" and a consensus price target of $9.87.

Insider Buying and Selling at Itau Unibanco

In other news, insider Vanzo Orestes sold 74,643 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total transaction of $625,508.34. Following the completion of the sale, the insider directly owned 933,371 shares in the company, valued at approximately $7,821,648.98. This represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

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.

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