Insider Selling: Itau Unibanco (NYSE:ITUB) Insider Sells $1,612,296.00 in Stock

Itau Unibanco Holding S.A. (NYSE:ITUB) insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the completion of the sale, the insider directly owned 1,637,511 shares of the company’s stock, valued at $14,442,847.02. The trade was a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Itau Unibanco Stock Up 0.1%

Shares of NYSE:ITUB opened at $9.17 on Monday. Itau Unibanco Holding S.A. has a 52 week low of $5.19 and a 52 week high of $9.60. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.58 and a current ratio of 1.79. The company has a market capitalization of $101.51 billion, a PE ratio of 13.02, a PEG ratio of 1.00 and a beta of 0.65. The company has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $7.76.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.98 billion. Analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s dividend payout ratio is currently 4.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Itau Unibanco has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ITUB. Royal Bank of Canada lifted its stake in Itau Unibanco by 11.7% in the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock valued at $2,450,000 after acquiring an additional 46,608 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Itau Unibanco by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock valued at $27,482,000 after acquiring an additional 1,107,607 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after acquiring an additional 5,355 shares during the last quarter. Guggenheim Capital LLC lifted its stake in Itau Unibanco by 11.7% in the second quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock valued at $804,000 after acquiring an additional 12,442 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Itau Unibanco by 425.3% in the second quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock valued at $2,420,000 after acquiring an additional 288,602 shares during the last quarter.

About Itau Unibanco

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.