Itau Unibanco Holding S.A. $ITUB Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 41,387,090 shares of the bank’s stock after purchasing an additional 369,474 shares during the period. JPMorgan Chase & Co.’s holdings in Itau Unibanco were worth $303,781,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MAI Capital Management acquired a new stake in shares of Itau Unibanco in the second quarter valued at $41,000. EverSource Wealth Advisors LLC grew its position in Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after acquiring an additional 5,355 shares in the last quarter. First Horizon Corp purchased a new stake in Itau Unibanco during the third quarter worth about $60,000. Park Avenue Securities LLC lifted its position in shares of Itau Unibanco by 17.5% during the third quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock worth $88,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Transcend Capital Advisors LLC purchased a new position in shares of Itau Unibanco in the third quarter valued at approximately $115,000.

Wall Street Analysts Forecast Growth

ITUB has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Research upgraded Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.00.

Itau Unibanco Price Performance

Shares of ITUB opened at $9.28 on Friday. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.79 and a quick ratio of 1.58. Itau Unibanco Holding S.A. has a 1-year low of $4.73 and a 1-year high of $9.60. The stock has a market cap of $102.73 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.02 and a beta of 0.62. The firm has a fifty day moving average price of $7.93 and a 200 day moving average price of $7.32.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.98 billion. Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. As a group, sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, December 2nd will be issued a $0.0032 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a c) dividend on an annualized basis and a yield of 0.4%. Itau Unibanco’s dividend payout ratio (DPR) is 4.29%.

Itau Unibanco Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.