Short Interest in Itaú Unibanco Holding S.A. (NYSE:ITUB) Increases By 47.5%

Itaú Unibanco Holding S.A. (NYSE:ITUB) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 17,170,000 shares, a growth of 47.5% from the November 30th total of 11,640,000 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 25,650,000 shares, the short-interest ratio is presently 0.7 days.

Itaú Unibanco Price Performance

ITUB stock traded up $0.01 during midday trading on Monday, reaching $4.99. 7,552,273 shares of the company’s stock traded hands, compared to its average volume of 19,539,732. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The company has a market cap of $48.91 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 0.68 and a beta of 0.95. The company has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $6.10. Itaú Unibanco has a 1-year low of $4.90 and a 1-year high of $7.27.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio is 3.85%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their target price on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Institutional Investors Weigh In On Itaú Unibanco

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Itaú Unibanco in the 3rd quarter valued at $1,215,000. State Street Corp lifted its stake in shares of Itaú Unibanco by 7.4% during the third quarter. State Street Corp now owns 12,522,486 shares of the bank’s stock valued at $83,899,000 after acquiring an additional 861,500 shares during the period. Driehaus Capital Management LLC boosted its holdings in Itaú Unibanco by 77.5% in the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after acquiring an additional 3,106,130 shares during the last quarter. HighTower Advisors LLC increased its position in Itaú Unibanco by 23.2% in the third quarter. HighTower Advisors LLC now owns 25,586 shares of the bank’s stock worth $169,000 after purchasing an additional 4,823 shares during the period. Finally, Perpetual Ltd raised its holdings in Itaú Unibanco by 9.0% during the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock worth $90,638,000 after purchasing an additional 1,126,695 shares during the last quarter.

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.