Itau Unibanco Holding S.A. (ITUB) Sees Large Drop in Short Interest
Itau Unibanco Holding S.A. (NYSE:ITUB) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 23,761,766 shares, a decrease of 21.9% from the August 31st total of 30,405,936 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 14,984,757 shares, the days-to-cover ratio is presently 1.6 days.
Shares of Itau Unibanco Holding (NYSE:ITUB) opened at 10.94 on Friday. The stock has a market cap of $64.87 billion, a PE ratio of 8.11 and a beta of 1.82. Itau Unibanco Holding has a 1-year low of $5.48 and a 1-year high of $11.58. The stock’s 50 day moving average price is $11.08 and its 200 day moving average price is $9.64.
Itau Unibanco Holding (NYSE:ITUB) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Itau Unibanco Holding had a return on equity of 19.19% and a net margin of 23.21%. On average, equities research analysts anticipate that Itau Unibanco Holding will post $1.07 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Monday, October 3rd. Itau Unibanco Holding’s dividend payout ratio is presently 4.92%.
Several equities research analysts have recently weighed in on ITUB shares. Goldman Sachs Group Inc. raised Itau Unibanco Holding from a “sell” rating to a “neutral” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. decreased their price objective on Itau Unibanco Holding from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, August 16th. Finally, Credit Suisse Group AG raised Itau Unibanco Holding from an “underperform” rating to a “neutral” rating in a report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Itau Unibanco Holding currently has a consensus rating of “Hold” and an average price target of $9.98.
A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Itau Unibanco Holding by 521.6% in the second quarter. Royal Bank of Canada now owns 274,682 shares of the company’s stock valued at $2,594,000 after buying an additional 230,492 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Itau Unibanco Holding by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,655,649 shares of the company’s stock valued at $15,630,000 after buying an additional 86,234 shares in the last quarter. Stifel Financial Corp increased its stake in Itau Unibanco Holding by 2.0% in the second quarter. Stifel Financial Corp now owns 134,049 shares of the company’s stock valued at $1,266,000 after buying an additional 2,619 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Itau Unibanco Holding during the second quarter valued at about $34,716,000. Finally, AQR Capital Management LLC increased its stake in Itau Unibanco Holding by 23.7% in the second quarter. AQR Capital Management LLC now owns 8,687,490 shares of the company’s stock valued at $82,010,000 after buying an additional 1,663,206 shares in the last quarter. Institutional investors own 4.64% of the company’s stock.
Itau Unibanco Holding Company Profile
Itau Unibanco Holding SA (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. It is engaged in banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange operations and other complementary activities.
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