Vanzo Carlos Orestes Sells 74,643 Shares of Itau Unibanco (NYSE:ITUB) Stock

Key Points

• Insider sale: Vanzo Carlos Orestes sold 74,643 Itau Unibanco shares for approximately $625,508 at an average price of $8.38, reducing his holdings by 7.4% to 933,371 shares.
• Stock performance and earnings: ITUB traded at $8.09, within a 12-month range of $6.54 to $9.60. The bank’s latest quarterly earnings of $0.21 per share narrowly missed analysts’ $0.22 estimate, while revenue was $9.27 billion.
• Analyst outlook: Itau Unibanco has a “Moderate Buy” consensus rating and a $10.00 average price target; JPMorgan recently raised its target to $10.00 and maintained an “overweight” rating.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) insider Vanzo Orestes sold 74,643 shares of the stock in a transaction dated 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 transaction, the insider directly owned 933,371 shares of the company's stock, valued at $7,821,648.98. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vanzo Carlos Orestes also recently made the following trade(s):

• On Tuesday, July 7th, Vanzo Orestes sold 60,000 shares of Itau Unibanco stock. The shares were sold at an average price of $8.24, for a total transaction of $494,400.00.

Itau Unibanco Price Performance

ITUB stock traded down $0.23 during trading on Wednesday, reaching $8.09. 35,701,737 shares of the company were exchanged, compared to its average volume of 24,039,441. The company has a 50-day moving average of $8.02 and a two-hundred day moving average of $8.22. The company has a market capitalization of $89.55 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.88 and a beta of 0.56. Itau Unibanco Holding S.A. has a twelve month low of $6.54 and a twelve month high of $9.60. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. As a group, equities analysts predict that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Itau Unibanco from $9.00 to $10.00 and gave the company 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 Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Itau Unibanco has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Institutional Investors Weigh In On Itau Unibanco

Institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank raised its stake in shares of Itau Unibanco by 11.1% during the fourth quarter. Huntington National Bank now owns 10,895 shares of the bank's stock valued at $78,000 after acquiring an additional 1,092 shares during the last quarter. Gould Asset Management LLC CA grew its stake in shares of Itau Unibanco by 3.0% in the fourth quarter. Gould Asset Management LLC CA now owns 40,777 shares of the bank's stock worth $292,000 after purchasing an additional 1,187 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Itau Unibanco by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank's stock valued at $79,000 after purchasing an additional 1,306 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Itau Unibanco by 3.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 46,666 shares of the bank's stock valued at $334,000 after purchasing an additional 1,357 shares during the period. Finally, Stephens Inc. AR raised its position in Itau Unibanco by 3.7% during the 1st quarter. Stephens Inc. AR now owns 40,445 shares of the bank's stock worth $339,000 after purchasing an additional 1,433 shares during the last quarter.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA is one of Brazil's largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.

The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.

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