Itaú Unibanco Holding S.A. (NYSE:ITUB) Sees Large Increase in Short Interest

Itaú Unibanco Holding S.A. (NYSE:ITUB) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 65,200,000 shares, a growth of 86.7% from the February 28th total of 34,930,000 shares. Based on an average daily trading volume, of 28,280,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.1% of the shares of the company are short sold.

Itaú Unibanco Stock Down 1.5 %

ITUB stock opened at $5.52 on Monday. The business’s 50-day moving average price is $5.29 and its 200-day moving average price is $5.30. The stock has a market cap of $59.46 billion, a P/E ratio of 7.07, a PEG ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. Itaú Unibanco has a twelve month low of $4.42 and a twelve month high of $6.30.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. On average, equities research analysts forecast that Itaú Unibanco will post 0.8 EPS for the current year.

Itaú Unibanco Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.0527 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Itaú Unibanco’s previous dividend of $0.00. Itaú Unibanco’s dividend payout ratio is currently 2.82%.

Institutional Investors Weigh In On Itaú Unibanco

Institutional investors and hedge funds have recently bought and sold shares of the business. Metis Global Partners LLC lifted its holdings in Itaú Unibanco by 7.4% in the 4th quarter. Metis Global Partners LLC now owns 27,876 shares of the bank’s stock worth $138,000 after purchasing an additional 1,925 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Itaú Unibanco by 13.4% during the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank’s stock valued at $84,000 after buying an additional 2,000 shares during the last quarter. Fielder Capital Group LLC lifted its holdings in shares of Itaú Unibanco by 13.2% in the fourth quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank’s stock worth $85,000 after buying an additional 2,001 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Itaú Unibanco by 16.9% during the third quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock worth $103,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Itaú Unibanco by 18.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank’s stock valued at $98,000 after acquiring an additional 3,089 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on ITUB. UBS Group raised Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. Finally, HSBC upgraded shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 price objective on the stock in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Itaú Unibanco has an average rating of “Buy” and a consensus target price of $6.27.

Itaú Unibanco Company Profile

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 + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.