Short Interest in Itaú Unibanco Holding S.A. (NYSE:ITUB) Rises By 86.7%

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) was the target 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 volume of 28,280,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.1% of the shares of the company are sold short.

Itaú Unibanco Price Performance

Shares of Itaú Unibanco stock traded up $0.02 on Wednesday, hitting $5.54. The company had a trading volume of 10,623,204 shares, compared to its average volume of 23,529,808. The company has a market cap of $59.73 billion, a PE ratio of 7.10, a PEG ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. Itaú Unibanco has a 52 week low of $4.42 and a 52 week high of $6.30. The business has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $5.29.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. Research analysts expect that Itaú Unibanco will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.0527 dividend. The ex-dividend date was Wednesday, February 19th. This is a boost from Itaú Unibanco's previous dividend of $0.00. Itaú Unibanco's payout ratio is currently 2.82%.

Analyst Ratings Changes

Several analysts recently weighed in on ITUB shares. Hsbc Global Res upgraded shares of Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. HSBC raised Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 price target on the stock in a report on Monday, January 13th. Finally, UBS Group raised Itaú Unibanco from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $6.27.

Institutional Trading of Itaú Unibanco

A number of hedge funds and other institutional investors have recently made changes to their positions in ITUB. Mackenzie Financial Corp grew its position in Itaú Unibanco by 296.8% in the fourth quarter. Mackenzie Financial Corp now owns 224,741 shares of the bank's stock worth $1,115,000 after buying an additional 168,100 shares during the last quarter. GTS Securities LLC acquired a new position in shares of Itaú Unibanco in the 4th quarter worth $103,000. Vise Technologies Inc. raised its position in shares of Itaú Unibanco by 14.0% during the fourth quarter. Vise Technologies Inc. now owns 61,367 shares of the bank's stock worth $304,000 after purchasing an additional 7,556 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of Itaú Unibanco by 127.2% during the fourth quarter. Voloridge Investment Management LLC now owns 6,290,328 shares of the bank's stock valued at $31,200,000 after purchasing an additional 3,521,518 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new stake in Itaú Unibanco during the fourth quarter valued at about $67,000.

About Itaú Unibanco

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.