Itaú Unibanco (ITUB) Soars on Its Addition to the Dow Jones for the 21st Consecutive Year

The Brazilian bank gets included in the Dow Jones Sustainability World Index 2020/2021 for a straight 21st year since the index creation in 1999.

After Itaú Unibanco (ITUB) shares rallied over 8% on Nov. 10 as the shares price surged above $5 for the first time since August 3, 2020. The stock pushed higher with a massive volume as ITUB traded above the volatile price range of $4.06 to $4.74 during the last month period.

Consequently, Itaú shares once again kick off with a bullish momentum on Monday followed by Dow Jones update. ITUB shares soared in the premarket as opened the session at $5.40 up from the previous close of $5.21. The stock closed at $5.41 after rising by 3.41%.

The Zack consensus estimate projected lower on the stock over the past few weeks. However, ITUB has once again pulled back, and currently, it above the $5 price mark. Zacks Ranks ITUB stock at #3 as a hold while its Earnings ESP is negative.

Itaú Unibanco Dow’s favorite

The Brazilian bank just announced that it has been included in the Dow Jones Sustainability World Index (DJSI World)in the 2020/2021 edition for the 21st successive year. The company updated its shareholders and the market in general. Being the only Latin American bank that is part of the index since it was created in 1999 gives great importance to ITUB.

Itaú Unibanco seems to be one of the Dow Jones’ favorites as the bank has stayed in its book since its creation.

DJSI World adds those companies that represent 13% of the 2,500 biggest companies of the S&P Global BMI index. Two of the most prominent factors that lead a company to DJSI World inclusion are:

  • The companies must be global leaders in sustainability,
  • Have the best rating in long-term economic, environmental, and social factors.

The new Dow Jones profile consists of 323 companies from 30 different countries, reflecting 24 major economic sectors. Itaú Unibanco is among those 7 Brazilian firms that are part of this portfolio.

Thus far, in this edition, the company is ranked the best in various categories including Social and Environmental Reporting, Financial Stability and Systemic Risk, Financial Inclusion, Climate Change, and Anti-crime Policy & Measures.

The addition of Itaú Unibanco in the Dow Jones Index reflects the firm’s long-term growth and objectives that are based on transparency and ethical conduct of business. The company is focusing on sustainable performance and the dedicated growth opportunity has made it even more prominent this year.

Itaú Unibanco’s (ITUB) growth is driven by the launchof two important projects which include the Amazon Plan and Todos pela Saúde” (All for Health).

Moreover, Dow Jones has also selected Itaú Unibanco’s (ITUB) to be part of its Sustainability Emerging Markets Index.

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