JPMorgan Chase & Co. Grows Stake in Itau Unibanco Holding S.A. $ITUB

JPMorgan Chase & Co. increased its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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. owned 0.37% of Itau Unibanco worth $303,781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC raised its holdings 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 valued at $88,000 after acquiring an additional 1,790 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Itau Unibanco by 4.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 63,599 shares of the bank’s stock worth $432,000 after purchasing an additional 2,778 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Itau Unibanco by 10.6% during the second quarter. Metis Global Partners LLC now owns 36,711 shares of the bank’s stock worth $249,000 after purchasing an additional 3,512 shares in the last quarter. Spire Wealth Management raised its stake in Itau Unibanco by 7.2% in the 3rd quarter. Spire Wealth Management now owns 55,679 shares of the bank’s stock valued at $409,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Itau Unibanco by 3.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 135,358 shares of the bank’s stock valued at $980,000 after purchasing an additional 3,953 shares in the last quarter.

Analysts Set New Price Targets

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

Itau Unibanco Price Performance

Shares of ITUB stock 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. The company has a market capitalization 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’s 50-day moving average is $7.93 and its two-hundred day moving average is $7.32. Itau Unibanco Holding S.A. has a 12 month low of $4.73 and a 12 month high of $9.60.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.98 billion. Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. Analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Dividend Announcement

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