Itau Unibanco (NYSE:ITUB) Insider Sells $469,000.00 in Stock

Key Points

• Insider sale: Fajerman Sergio Guillinet sold 50,000 shares at an average of $9.38 for a total of $469,000, trimming his stake by 3.8% to 1,265,119 shares.
• Earnings miss: Itau reported $0.17 EPS versus a $0.20 consensus and revenue of $8.62 billion versus $8.98 billion, signaling a quarterly shortfall despite solid margins and ROE.
• Special dividend: The bank announced a $0.068 per share special dividend payable September 8 with a record date of March 23, and a reported payout ratio of 4.29%.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) insider Fajerman Sergio Guillinet sold 50,000 shares of Itau Unibanco stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total value of $469,000.00. Following the completion of the transaction, the insider owned 1,265,119 shares in the company, valued at $11,866,816.22. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Itau Unibanco Stock Down 0.5%

NYSE:ITUB traded down $0.05 during mid-day trading on Thursday, hitting $9.35. The company had a trading volume of 14,314,005 shares, compared to its average volume of 27,097,594. The business has a fifty day simple moving average of $8.68 and a 200-day simple moving average of $7.80. The company has a current ratio of 1.79, a quick ratio of 1.58 and a debt-to-equity ratio of 2.61. Itau Unibanco Holding S.A. has a 1 year low of $5.37 and a 1 year high of $9.60. The firm has a market capitalization of $103.51 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.02 and a beta of 0.65.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The company had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.98 billion. Equities analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco's payout ratio is presently 4.29%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in Itau Unibanco during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its stake in Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock valued at $47,000 after purchasing an additional 5,355 shares during the period. Farther Finance Advisors LLC raised its stake in Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank's stock valued at $48,000 after purchasing an additional 1,901 shares during the period. Community Bank N.A. acquired a new stake in Itau Unibanco during the 3rd quarter valued at $57,000. Finally, First Horizon Corp acquired a new stake in Itau Unibanco during the 3rd quarter valued at $60,000.

Analyst Upgrades and Downgrades

ITUB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on Itau Unibanco from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Itau Unibanco in a research note on Monday, December 29th. Finally, Zacks Research downgraded Itau Unibanco from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.00.

Itau Unibanco Company Profile

Itaú Unibanco SA NYSE: ITUB is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.

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