JPMorgan Chase & Co. Acquires 2,604,304 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

JPMorgan Chase & Co. grew its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,829,515 shares of the bank’s stock after purchasing an additional 2,604,304 shares during the period. JPMorgan Chase & Co.’s holdings in Itaú Unibanco were worth $338,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Itaú Unibanco in the third quarter valued at $1,215,000. State Street Corp grew its holdings in shares of 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 during the last quarter. Driehaus Capital Management LLC lifted its holdings in Itaú Unibanco by 77.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after purchasing an additional 3,106,130 shares during the last quarter. HighTower Advisors LLC lifted 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 valued at $169,000 after purchasing an additional 4,823 shares during the last quarter. Finally, Perpetual Ltd boosted its position in Itaú Unibanco by 9.0% in the third quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock valued at $90,638,000 after buying an additional 1,126,695 shares in the last quarter.

Itaú Unibanco Stock Down 0.4 %

NYSE ITUB opened at $4.98 on Monday. The stock has a market capitalization of $48.81 billion, a P/E ratio of 6.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Itaú Unibanco Holding S.A. has a 52 week low of $4.90 and a 52 week high of $7.27. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a fifty day moving average of $5.71 and a 200-day moving average of $6.10.

Itaú Unibanco Cuts Dividend

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

Analyst Ratings Changes

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