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 decline in short interest during the month of December. As of December 30th, there was short interest totalling 29,180,000 shares, a decline of 5.9% from the December 15th total of 31,000,000 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 43,350,000 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ITUB. Veriti Management LLC increased its position in Itaú Unibanco by 13.1% during the 4th quarter. Veriti Management LLC now owns 154,138 shares of the bank’s stock worth $726,000 after purchasing an additional 17,834 shares in the last quarter. Pendal Group Ltd increased its position in Itaú Unibanco by 14.0% during the 4th quarter. Pendal Group Ltd now owns 51,673,352 shares of the bank’s stock worth $243,381,000 after purchasing an additional 6,345,018 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Itaú Unibanco by 38.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 18,928 shares of the bank’s stock worth $89,000 after purchasing an additional 5,294 shares in the last quarter. Ronald Blue Trust Inc. increased its position in Itaú Unibanco by 53.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 17,447 shares of the bank’s stock worth $90,000 after purchasing an additional 6,107 shares in the last quarter. Finally, Gateway Investment Advisers LLC acquired a new stake in Itaú Unibanco during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 2.25% of the company’s stock.

Analyst Ratings Changes

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

Itaú Unibanco Trading Down 2.0 %

NYSE ITUB opened at $4.86 on Tuesday. Itaú Unibanco has a 12 month low of $3.90 and a 12 month high of $6.07. The company has a 50-day moving average of $4.80 and a 200-day moving average of $5.00. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $47.63 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.47 and a beta of 0.71.

Itaú Unibanco (NYSE:ITUBGet Rating) last posted its quarterly earnings data on Thursday, November 10th. The bank reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Itaú Unibanco had a net margin of 10.97% and a return on equity of 17.42%. The company had revenue of $7.01 billion during the quarter. As a group, equities analysts predict that Itaú Unibanco will post 0.61 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

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

About Itaú Unibanco

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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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