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

JPMorgan Chase & Co. boosted its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 5.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,829,515 shares of the bank's stock after purchasing 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 SEC filing.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Itaú Unibanco by 68.5% during the third quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after purchasing an additional 2,469 shares during the period. Quantinno Capital Management LP bought a new stake in Itaú Unibanco during the 3rd quarter worth approximately $68,000. Daymark Wealth Partners LLC acquired a new stake in Itaú Unibanco during the 3rd quarter worth approximately $68,000. MQS Management LLC bought a new position in Itaú Unibanco in the third quarter valued at approximately $70,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Itaú Unibanco in the third quarter valued at approximately $81,000.

Itaú Unibanco Stock Up 0.4 %

Shares of NYSE ITUB traded up $0.02 during midday trading on Monday, reaching $5.00. The company's stock had a trading volume of 19,552,266 shares, compared to its average volume of 19,589,854. Itaú Unibanco Holding S.A. has a fifty-two week low of $4.90 and a fifty-two week high of $7.27. The stock has a 50 day simple moving average of $5.68 and a 200-day simple moving average of $6.09. The stock has a market capitalization of $49.00 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.68 and a beta of 0.95. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.28.

Itaú Unibanco Cuts Dividend

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

Analysts Set New Price Targets

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

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.