Short Interest in Itau Unibanco Holding SA (NYSE:ITUB) Drops By 18.8%

Itau Unibanco Holding SA (NYSE:ITUB) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 12,190,032 shares, a decline of 18.8% from the February 28th total of 15,003,570 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 17,286,135 shares, the days-to-cover ratio is currently 0.7 days.

Several research analysts have recently weighed in on ITUB shares. Bank of America cut Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 5th. ValuEngine cut Itau Unibanco from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Scotiabank upgraded Itau Unibanco from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, February 26th. Finally, Zacks Investment Research cut Itau Unibanco from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Itau Unibanco has a consensus rating of “Hold” and an average price target of $12.00.

A number of institutional investors and hedge funds have recently modified their holdings of ITUB. Trilogy Global Advisors LP boosted its stake in shares of Itau Unibanco by 19.4% in the fourth quarter. Trilogy Global Advisors LP now owns 2,700,879 shares of the bank’s stock worth $25,000 after acquiring an additional 439,750 shares during the period. SeaBridge Investment Advisors LLC boosted its stake in shares of Itau Unibanco by 50.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 3,000 shares of the bank’s stock worth $27,000 after acquiring an additional 1,000 shares during the period. Smithfield Trust Co. boosted its stake in Itau Unibanco by 50.0% during the fourth quarter. Smithfield Trust Co. now owns 4,457 shares of the bank’s stock valued at $41,000 after buying an additional 1,485 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Itau Unibanco by 230.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 4,848 shares of the bank’s stock valued at $44,000 after buying an additional 3,379 shares during the last quarter. Finally, Legacy Financial Advisors Inc. bought a new position in Itau Unibanco during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 4.91% of the company’s stock.

Itau Unibanco stock traded down $0.15 during mid-day trading on Wednesday, reaching $8.33. 15,113,564 shares of the stock traded hands, compared to its average volume of 19,525,053. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $81.11 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.03. Itau Unibanco has a 12-month low of $6.57 and a 12-month high of $10.80.

The business also recently declared a monthly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 2nd will be given a $0.0039 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, April 1st. Itau Unibanco’s payout ratio is 7.58%.

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Itau Unibanco Company Profile

Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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