Itau Unibanco Holding SA (NYSE:ITUB) Short Interest Up 10.5% in April

Itau Unibanco Holding SA (NYSE:ITUB) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 23,540,430 shares, a growth of 10.5% from the March 29th total of 21,299,538 shares. Based on an average daily volume of 17,872,139 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.5% of the company’s stock are short sold.

NYSE:ITUB traded down $0.12 during mid-day trading on Friday, hitting $7.67. 32,596,065 shares of the company traded hands, compared to its average volume of 19,263,250. Itau Unibanco has a one year low of $6.57 and a one year high of $10.80. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $77.03 billion, a PE ratio of 11.62, a P/E/G ratio of 1.09 and a beta of 1.00.

The business also recently declared a monthly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.0038 per share. This represents a $0.05 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Monday, June 3rd. Itau Unibanco’s dividend payout ratio is presently 7.58%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 lifted its position 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 buying an additional 1,000 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of Itau Unibanco in the first quarter worth about $34,000. Smithfield Trust Co. lifted its position in shares of Itau Unibanco by 50.0% in the fourth quarter. Smithfield Trust Co. now owns 4,457 shares of the bank’s stock worth $41,000 after buying an additional 1,485 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of Itau Unibanco by 230.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 4,848 shares of the bank’s stock worth $44,000 after buying an additional 3,379 shares in the last quarter. 4.77% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on ITUB. HSBC upgraded Itau Unibanco from a “reduce” rating to a “hold” rating in a research note on Friday. ValuEngine upgraded Itau Unibanco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Itau Unibanco from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Scotiabank upgraded Itau Unibanco from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, February 26th. Finally, Bank of America cut Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 5th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $12.00.

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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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