Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,829,515 shares of the bank’s stock after acquiring an additional 2,604,304 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Itaú Unibanco worth $338,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Itaú Unibanco in the 3rd quarter worth $1,215,000. State Street Corp increased its stake in Itaú Unibanco by 7.4% in the 3rd quarter. State Street Corp now owns 12,522,486 shares of the bank’s stock worth $83,899,000 after purchasing an additional 861,500 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Itaú Unibanco by 77.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock worth $41,549,000 after purchasing an additional 3,106,130 shares in the last quarter. HighTower Advisors LLC raised its holdings in Itaú Unibanco by 23.2% during the 3rd quarter. HighTower Advisors LLC now owns 25,586 shares of the bank’s stock worth $169,000 after buying an additional 4,823 shares during the period. Finally, Perpetual Ltd lifted its position in shares of Itaú Unibanco by 9.0% in the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock valued at $90,638,000 after acquiring an additional 1,126,695 shares in the last quarter.

Itaú Unibanco Price Performance

Shares of Itaú Unibanco stock opened at $4.98 on Monday. The firm has a fifty day moving average price of $5.71 and a two-hundred day moving average price of $6.10. Itaú Unibanco Holding S.A. has a fifty-two week low of $4.90 and a fifty-two week high of $7.27. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market cap of $48.81 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

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

Analyst Ratings Changes

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

Itaú Unibanco Company Profile

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.