Itau Unibanco (NYSE:ITUB) Insider Vanzo Carlos Orestes Sells 60,000 Shares of Stock

Key Points

• Insider sale: Itaú Unibanco insider Vanzo Carlos Orestes sold 60,000 shares on July 7 at an average price of $8.24, totaling about $494,400. After the transaction, he still held just over 1.0 million shares.
• Dividend announced: The bank declared a special dividend of $0.068 per share, payable on September 8 to shareholders of record as of June 22. Its payout ratio is currently low at 4.11%.
• Stock and analyst backdrop: ITUB shares recently traded around $8.15, near their 50-day and 200-day moving averages, after the company missed quarterly EPS and revenue estimates. Wall Street’s consensus remains a “Moderate Buy” with a $10.00 target price.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) insider Vanzo Carlos Orestes sold 60,000 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the sale, the insider owned 1,008,014 shares of the company's stock, valued at approximately $8,306,035.36. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Itau Unibanco Price Performance

Shares of ITUB traded down $0.07 during trading hours on Wednesday, hitting $8.15. 25,140,481 shares of the company were exchanged, compared to its average volume of 25,237,127. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. Itau Unibanco Holding S.A. has a fifty-two week low of $5.93 and a fifty-two week high of $9.60. The company has a market cap of $90.33 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 0.89 and a beta of 0.58. The firm's fifty day moving average is $8.02 and its 200 day moving average is $8.21.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). The company had revenue of $9.01 billion during the quarter, compared to analyst estimates of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. On average, equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be given a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco's payout ratio is presently 4.11%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in shares of Itau Unibanco in the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC increased its position in Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank's stock worth $48,000 after purchasing an additional 1,901 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Itau Unibanco by 332.4% in 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 last quarter. V Square Quantitative Management LLC bought a new position in Itau Unibanco in the 1st quarter valued at approximately $59,000. Finally, Community Bank N.A. acquired a new stake in Itau Unibanco in the third quarter valued at approximately $57,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ITUB shares. JPMorgan Chase & Co. increased their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday. Weiss Ratings restated a "buy (b)" rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. Finally, Zacks Research downgraded Itau Unibanco from a "strong-buy" rating to a "hold" rating in a report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.00.

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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