Jump Financial LLC Raises Stock Holdings in Itau Unibanco Holding S.A. $ITUB

Key Points

• Jump Financial LLC significantly increased its investment in Itau Unibanco Holding S.A. by 343.0%, acquiring 393,400 shares valued at $2,164,000 as of the latest filing.
• Several institutional investors, including GQG Partners LLC, also made substantial investments in Itau Unibanco, with GQG increasing its stake by 738.6% during the same period.
• Itau Unibanco has declared a new dividend of $0.0026 per share, which will be paid on October 8th, marking a significant increase from its previous dividend of $0.00.

Jump Financial LLC raised its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 343.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,400 shares of the bank's stock after buying an additional 304,600 shares during the quarter. Jump Financial LLC's holdings in Itau Unibanco were worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its stake in Itau Unibanco by 738.6% in the first quarter. GQG Partners LLC now owns 77,734,889 shares of the bank's stock valued at $427,542,000 after buying an additional 68,465,514 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Itau Unibanco by 5.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 41,964,629 shares of the bank's stock valued at $230,805,000 after buying an additional 2,306,414 shares during the last quarter. Bank of America Corp DE lifted its stake in Itau Unibanco by 311.4% in the fourth quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank's stock valued at $126,898,000 after buying an additional 19,365,644 shares during the last quarter. Vanguard Group Inc. lifted its stake in Itau Unibanco by 6.7% in the first quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank's stock valued at $135,260,000 after buying an additional 1,549,003 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in Itau Unibanco by 9.9% in the first quarter. Perpetual Ltd now owns 15,031,037 shares of the bank's stock valued at $82,671,000 after buying an additional 1,349,543 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $6.27.

Itau Unibanco Trading Up 2.3%

NYSE:ITUB opened at $6.96 on Thursday. The firm has a market cap of $74.98 billion, a P/E ratio of 9.86, a PEG ratio of 1.03 and a beta of 0.74. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The stock's 50 day simple moving average is $6.62 and its 200-day simple moving average is $6.14. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released 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. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. Equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.0026 per share. This is a boost from Itau Unibanco's previous dividend of $0.00. This represents a yield of 45.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Itau Unibanco's dividend payout ratio is currently 33.80%.

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.

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