JPMorgan Chase & Co. Sells 3,369,967 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• JPMorgan Chase & Co. reduced its holdings in Itau Unibanco by 7.1%, selling 3.37 million shares, bringing its ownership to approximately $242.7 million.
• Itau Unibanco reported earnings per share of $0.18, meeting analysts' expectations, while revenue fell short at $7.14 billion compared to estimates of $44.75 billion.
• The company recently paid a dividend of $0.0024, which represents a high dividend yield of 43.0%.

JPMorgan Chase & Co. reduced its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,119,642 shares of the bank's stock after selling 3,369,967 shares during the period. JPMorgan Chase & Co. owned approximately 0.41% of Itau Unibanco worth $242,658,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Itau Unibanco during the 4th quarter worth approximately $35,000. Parallel Advisors LLC raised its stake in Itau Unibanco by 707.1% during the first quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after acquiring an additional 6,781 shares in the last quarter. Alta Capital Management LLC bought a new position in shares of Itau Unibanco during the first quarter valued at $62,000. Tuttle Capital Management LLC acquired a new stake in shares of Itau Unibanco in the 1st quarter valued at $67,000. Finally, Waverly Advisors LLC bought a new stake in shares of Itau Unibanco in the 4th quarter worth about $67,000.

Itau Unibanco Trading Down 0.1%

Shares of ITUB traded down $0.01 during trading hours on Monday, hitting $6.97. 11,259,695 shares of the stock traded hands, compared to its average volume of 28,570,096. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. Itau Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $7.13. The firm has a market capitalization of $75.09 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74. The business has a fifty day moving average of $6.60 and a 200-day moving average of $6.06.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. Analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a $0.0024 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 43.0%. Itau Unibanco's dividend payout ratio is presently 4.23%.

Analysts Set New Price Targets

Separately, UBS Group reaffirmed a "neutral" rating on shares of Itau Unibanco in a research note on Thursday, July 10th.

Itau Unibanco 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.