Itau Unibanco Holding S.A. [ITUB] gain 16.51% so far this year. What now?



Itau Unibanco Holding S.A. [NYSE: ITUB] jumped around 0.16 points on Monday, while shares priced at $4.35 at the close of the session, up 3.82%. The company report on July 8, 2022 that Material Fact: Strategic participation in Avenue.

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Itaú Unibanco Holding S.A. (“Itaú Unibanco”) informs its stockholders and the market that today it entered into a share purchase agreement, through its subsidiaries, with Avenue Controle Cayman Ltd and other selling stockholders, providing for the acquisition of control of Avenue Holding Cayman Ltd (“Avenue”).

After obtaining the required regulatory approvals, Itaú Unibanco will initially acquire 35.0% of the total and voting capital of Avenue through a capital contribution of R$160 million and a secondary acquisition of shares, totaling approximately R$ 493 million. After 2 years from the closing date of this first tranche, Itaú Unibanco will acquire an additional stake of 15.1%, for an amount to be determined based on a predefined multiple of adjusted revenues, achieving the control with 50.1% of the total and voting capital. After 5 years from the closing date of the first tranche, Itaú Unibanco will be able to exercise a call option for the remaining equity interest held by the current stockholders of Avenue.

Itau Unibanco Holding S.A. stock is now 16.51% up from its year-to-date (YTD) trading value. ITUB Stock saw the intraday high of $4.3754 and lowest of $4.21 per share. The company’s 52-week high price is 5.88, which means current price is +17.09% above from all time high which was touched on 04/04/22.

Compared to the average trading volume of 50.86M shares, ITUB reached a trading volume of 55362102 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Itau Unibanco Holding S.A. [ITUB]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ITUB shares is $5.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ITUB stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Itau Unibanco Holding S.A. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 11, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on January 24, 2022, representing the official price target for Itau Unibanco Holding S.A. stock.

The Average True Range (ATR) for Itau Unibanco Holding S.A. is set at 0.15, with the Price to Sales ratio for ITUB stock in the period of the last 12 months amounting to 1.63. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 18.93. Price to Free Cash Flow for ITUB in the course of the last twelve months was 2.34.

How has ITUB stock performed recently?

Itau Unibanco Holding S.A. [ITUB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.82. With this latest performance, ITUB shares dropped by -1.50% in over the last four-week period, additionally plugging by 3.53% over the last 6 months – not to mention a drop of -2.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITUB stock in for the last two-week period is set at 49.61, with the RSI for the last a single of trading hit 56.02, and the three-weeks RSI is set at 46.46 for Itau Unibanco Holding S.A. [ITUB]. The present Moving Average for the last 50 days of trading for this stock 4.67, while it was recorded at 4.27 for the last single week of trading, and 4.59 for the last 200 days.

Itau Unibanco Holding S.A. [ITUB]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Itau Unibanco Holding S.A. [ITUB] shares currently have an operating margin of +24.01. Itau Unibanco Holding S.A.’s Net Margin is presently recorded at +14.18.

Return on Equity for this stock inclined to 18.09, with Return on Assets sitting at 1.31.

Earnings analysis for Itau Unibanco Holding S.A. [ITUB]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ITUB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Itau Unibanco Holding S.A. go to 21.50%.

Insider trade positions for Itau Unibanco Holding S.A. [ITUB]

There are presently around $4,233 million, or 21.80% of ITUB stock, in the hands of institutional investors. The top three institutional holders of ITUB stocks are: SCHRODER INVESTMENT MANAGEMENT GROUP with ownership of 157,064,308, which is approximately -4.126% of the company’s market cap and around 52.10% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 92,419,788 shares of the stock with an approximate value of $402.03 million in ITUB stocks shares; and ORBIS ALLAN GRAY LTD, currently with $354.5 million in ITUB stock with ownership of nearly 79.063% of the company’s market capitalization.

Positions in Itau Unibanco Holding S.A. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 154 institutional holders increased their position in Itau Unibanco Holding S.A. [NYSE:ITUB] by around 179,418,877 shares. Additionally, 138 investors decreased positions by around 239,659,116 shares, while 41 investors held positions by with 554,132,410 shares. The mentioned changes placed institutional holdings at 973,210,403 shares, according to the latest SEC report filing. ITUB stock had 62 new institutional investments in for a total of 68,646,020 shares, while 56 institutional investors sold positions of 58,364,317 shares during the same period.