Itau Unibanco (NYSE:ITUB) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Itau Unibanco shares fell below their 200-day moving average, trading as low as $7.23 and last changing hands at $7.6930, down 20.4%.
• Analyst sentiment remains moderately positive: the stock has a consensus “Moderate Buy” rating and an average price target of $9.87, despite HSBC and Wall Street Zen assigning “Hold” ratings.
• The bank slightly missed quarterly expectations, reporting $0.21 in EPS versus a $0.22 estimate and $9.27 billion in revenue versus $9.29 billion expected.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $8.36 and traded as low as $7.23. Itau Unibanco shares last traded at $7.6930, with a volume of 137,279,391 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on ITUB. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen raised shares of Itau Unibanco to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings upgraded Itau Unibanco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. The Goldman Sachs Group reissued a "buy" rating and issued a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a research report on Friday, October 9th. Finally, HSBC lowered Itau Unibanco from a "buy" rating to a "hold" rating and set a $9.10 target price for the company. in a report on Thursday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.87.

Itau Unibanco Trading Down 20.4%

The stock's fifty day moving average price is $8.51 and its two-hundred day moving average price is $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. The stock has a market capitalization of $85.21 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 1.20 and a beta of 0.50.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. Equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.88 EPS for the current year.

Insider Transactions at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total value of $625,508.34. Following the completion of the sale, the insider owned 933,371 shares in the company, valued at approximately $7,821,648.98. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Itau Unibanco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of Itau Unibanco during the first quarter valued at approximately $59,000. EverSource Wealth Advisors LLC boosted its stake in shares of Itau Unibanco by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank's stock worth $79,000 after acquiring an additional 1,306 shares during the last quarter. Resonant Capital Advisors LLC purchased a new stake in Itau Unibanco in the 1st quarter worth approximately $89,000. Axxcess Wealth Management LLC bought a new stake in Itau Unibanco during the third quarter valued at about $93,000. Finally, Farther Finance Advisors LLC lifted its holdings in Itau Unibanco by 39.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,892 shares of the bank's stock worth $110,000 after purchasing an additional 3,661 shares in the last quarter.

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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