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

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. decreased 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 disclosure with the SEC. The fund owned 44,119,642 shares of the bank's stock after selling 3,369,967 shares during the quarter. JPMorgan Chase & Co. owned 0.41% of Itau Unibanco worth $242,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. acquired a new position in Itau Unibanco in the 4th quarter worth approximately $35,000. Parallel Advisors LLC boosted its stake in Itau Unibanco by 707.1% in the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after purchasing an additional 6,781 shares during the period. Alta Capital Management LLC acquired a new position in Itau Unibanco in the 1st quarter worth approximately $62,000. Sagespring Wealth Partners LLC acquired a new position in Itau Unibanco in the 4th quarter worth approximately $67,000. Finally, Waverly Advisors LLC acquired a new position in Itau Unibanco in the 4th quarter worth approximately $67,000.

Itau Unibanco Trading Down 1.3%

Shares of NYSE:ITUB opened at $7.01 on Thursday. The firm has a fifty day moving average of $6.58 and a two-hundred day moving average of $6.03. The firm has a market capitalization of $75.57 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.10 and a beta of 0.74. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.13. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39.

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

Itau Unibanco Cuts Dividend

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

Analyst Ratings Changes

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

About Itau 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.

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