Itau Unibanco Holding S.A. [ITUB] is 37.04% higher this YTD. Is it still time to buy?

Itau Unibanco Holding S.A. [NYSE: ITUB] traded at a low on 09/16/22, posting a -0.59 loss after which it closed the day’ session at $5.05. The company report on August 25, 2022 that Itaú Unibanco Holding S.A.: Material Fact – Stock Buyback Program.


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ITAÚ UNIBANCO HOLDING S.A. informs its stockholders that its Board of Directors has approved, at the meeting held on August 25, 2022, a stock buyback program, which will be effective as of this date, and authorizes the Company to buy up to 75,000,000 own preferred shares, without a capital reduction, to be held in treasury, cancelled or replaced in the market, pursuant to Article 30, §§ 1 and 2, of the Brazilian Corporate Law (Law No. 6,404/76) and CVM Resolution 77/22.

The buybacks, if performed, will take place on a stock exchange in the period from August 25, 2022 to February 24, 2024, at market value, and will be intermediated by Itaú Corretora de Valores S.A.

The results of the trading session contributed to over 36892052 shares changing hands. Over the past one week, the price volatility of Itau Unibanco Holding S.A. stands at 2.07% while the volatility over the past one month is 2.29%.

The market cap for ITUB stock reached $46.17 billion, with 9.80 billion shares outstanding and 5.30 billion shares in the current float. Compared to the average trading volume of 41.50M shares, ITUB reached a trading volume of 36892052 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 $6.04 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 2.30. 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 0.13, with the Price to Sales ratio for ITUB stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 20.29. Price to Free Cash Flow for ITUB in the course of the last twelve months was 1.86.

How has ITUB stock performed recently?

Itau Unibanco Holding S.A. [ITUB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.32. With this latest performance, ITUB shares dropped by -2.61% in over the last four-week period, additionally sinking by -0.17% over the last 6 months – not to mention a rise of 17.57% 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 51.42, with the RSI for the last a single of trading hit 46.32, and the three-weeks RSI is set at 52.62 for Itau Unibanco Holding S.A. [ITUB]. The present Moving Average for the last 50 days of trading for this stock 4.79, while it was recorded at 5.13 for the last single week of trading, and 4.74 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 9.40%.

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

There are presently around $4,417 million, or 19.70% 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 127,899,445, which is approximately -18.569% of the company’s market cap and around 52.10% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 68,665,293 shares of the stock with an approximate value of $346.76 million in ITUB stocks shares; and WESTWOOD GLOBAL INVESTMENTS, LLC, currently with $280.23 million in ITUB stock with ownership of nearly -1.816% 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 130 institutional holders increased their position in Itau Unibanco Holding S.A. [NYSE:ITUB] by around 104,194,624 shares. Additionally, 135 investors decreased positions by around 201,316,061 shares, while 49 investors held positions by with 569,176,647 shares. The mentioned changes placed institutional holdings at 874,687,332 shares, according to the latest SEC report filing. ITUB stock had 37 new institutional investments in for a total of 12,083,783 shares, while 42 institutional investors sold positions of 57,837,642 shares during the same period.

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