Short Interest in Itaú Unibanco Holding S.A. (NYSE:ITUB) Declines By 5.9%

Itaú Unibanco Holding S.A. (NYSE:ITUBGet Rating) was the recipient of a large decrease in short interest in the month of December. As of December 30th, there was short interest totalling 29,180,000 shares, a decrease of 5.9% from the December 15th total of 31,000,000 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 43,350,000 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

ITUB has been the subject of a number of analyst reports. Scotiabank upgraded Itaú Unibanco from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 5th. The Goldman Sachs Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating and increased their target price for the company from $5.40 to $7.00 in a research note on Thursday, September 29th. Finally, Barclays upgraded Itaú Unibanco from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $5.50 to $7.00 in a research note on Tuesday, November 15th.

Itaú Unibanco Stock Performance

Itaú Unibanco stock opened at $4.86 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.40. The stock has a market cap of $47.63 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.47 and a beta of 0.71. Itaú Unibanco has a 52 week low of $3.90 and a 52 week high of $6.07. The stock has a 50 day moving average of $4.80 and a 200-day moving average of $5.00.

Itaú Unibanco (NYSE:ITUBGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The bank reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $7.01 billion for the quarter. Itaú Unibanco had a return on equity of 17.42% and a net margin of 10.97%. On average, analysts expect that Itaú Unibanco will post 0.61 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 13th. Investors of record on Thursday, February 2nd will be given a dividend of $0.002 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Wednesday, February 1st. Itaú Unibanco’s dividend payout ratio is currently 5.36%.

Institutional Investors Weigh In On Itaú Unibanco

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Itaú Unibanco during the 2nd quarter valued at approximately $25,000. Eagle Bay Advisors LLC acquired a new stake in Itaú Unibanco in the second quarter worth $30,000. Huntington National Bank increased its position in Itaú Unibanco by 33.4% in the third quarter. Huntington National Bank now owns 8,353 shares of the bank’s stock worth $43,000 after buying an additional 2,093 shares during the period. Toronto Dominion Bank increased its position in Itaú Unibanco by 42.5% in the second quarter. Toronto Dominion Bank now owns 11,020 shares of the bank’s stock worth $47,000 after buying an additional 3,288 shares during the period. Finally, Ronald Blue Trust Inc. increased its position in Itaú Unibanco by 18,190.3% in the third quarter. Ronald Blue Trust Inc. now owns 11,340 shares of the bank’s stock worth $49,000 after buying an additional 11,278 shares during the period. 2.25% of the stock is owned by institutional investors and hedge funds.

Itaú Unibanco Company Profile

(Get Rating)

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. It offers various deposit products, as well as loans and credit cards; investment and commercial banking services; real estate lending services; financing and investment services; and leasing and foreign exchange services.

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