Itau Unibanco Holding S.A. [ITUB] gain 62.65% so far this year. What now?

Itau Unibanco Holding S.A. [NYSE: ITUB] gained 4.72% or 0.27 points to close at $5.99 with a heavy trading volume of 63146091 shares. 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.

It opened the trading session at $5.69, the shares rose to $6.04 and dropped to $5.69, the range by which the price of stock traded the whole day. The daily chart for ITUB points out that the company has recorded 15.49% gains over the past six months. However, it is still -69.21% lower than its most recent low trading price.

If we look at the average trading volume of 39.78M shares, ITUB reached to a volume of 63146091 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $6.27 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.

Goldman have made an estimate for Itau Unibanco Holding S.A. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 29, 2022. The new note on the price target was released on February 11, 2022, representing the official price target for Itau Unibanco Holding S.A. stock. Previously, the target price had yet another raise to $4.50, while Barclays analysts kept a Equal Weight rating on ITUB stock.

The Average True Range (ATR) for Itau Unibanco Holding S.A. is set at 0.19, with the Price to Sales ratio for ITUB stock in the period of the last 12 months amounting to 1.77. The Price to Book ratio for the last quarter was 1.96, 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 2.21.

Trading performance analysis for ITUB stock

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 12.17. With this latest performance, ITUB shares gained by 7.04% in over the last four-week period, additionally plugging by 15.49% over the last 6 months – not to mention a rise of 43.56% 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 69.48, with the RSI for the last a single of trading hit 71.69, and the three-weeks RSI is set at 63.59 for Itau Unibanco Holding S.A. [ITUB]. The present Moving Average for the last 50 days of trading for this stock 5.30, while it was recorded at 5.63 for the last single week of trading, and 4.95 for the last 200 days.

Itau Unibanco Holding S.A. [ITUB]: A deeper dive into fundamental analysis

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.

Itau Unibanco Holding S.A. [ITUB]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Itau Unibanco Holding S.A. [ITUB]

There are presently around $5,434 million, or 19.60% 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 $411.31 million in ITUB stocks shares; and WESTWOOD GLOBAL INVESTMENTS, LLC, currently with $332.39 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 November and at the time of the November reporting period, where 125 institutional holders increased their position in Itau Unibanco Holding S.A. [NYSE:ITUB] by around 139,178,372 shares. Additionally, 134 investors decreased positions by around 202,963,060 shares, while 49 investors held positions by with 565,042,501 shares. The mentioned changes placed institutional holdings at 907,183,933 shares, according to the latest SEC report filing. ITUB stock had 29 new institutional investments in for a total of 11,578,428 shares, while 41 institutional investors sold positions of 57,606,158 shares during the same period.

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