Westwood Global Investments LLC recently announced the acquisition of new stake in Itau Unibanco Holding S.A. ADR (NYSE:ITUB). The institutional investor has increased its shareholding in the Financial company by 2.83% to 63.47 million shares with purchase of 1.75 million shares. This fresh investment now brings its stake to 1.31% valued currently at $406.23 million. In addition, Goldman Sachs International raised its holdings by 11.63 million to 63.47 million shares. And Schroder Investment Management Lt has lifted its position by 4.90% or 2.69 million shares – to 57.71 million shares.
With over 19.22 million Itau Unibanco Holding S.A. ADR (ITUB) shares trading Friday and a closing price of $6.89 on the day, the dollar volume was approximately $132.44 million. The shares have shown a positive half year performance of 17.29% and its price on 01/05/24 gained nearly 2.68%. Currently, there are 4.85B common shares owned by the public and among those 4.81B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for ITUB have a consensus price objective of $35.35. The analysts have set the share’s price value over the next 12 months at a high of $41.00 and a low of $30.50. The average price target is -6.82% below its recent price level and an upside to the estimated low will see the stock gain 77.41% over that period. But an upside of 83.2% will see the stock hit the forecast high price target while median target price for the stock is $36.00.
The top 3 mutual fund holders in Itau Unibanco Holding S.A. ADR are JOHCM International Select Fund, iShares Tr. – Latin America 40 ET, and JPMorgan Emerging Markets Equity. JOHCM International Select Fund owns 19.33 million shares of the company’s stock, all valued at over $123.72 million. The company sold -4.22 million shares recently to bring their total holdings to about 0.40% of the shares outstanding. JPMorgan Emerging Markets Equity now owns shares totaling to 0.36% of the shares outstanding.
Shares of Itau Unibanco Holding S.A. ADR (NYSE: ITUB) opened at $6.80, up $0.09 from a prior closing price of $6.71. However, the script later moved the day high at 6.91, up 2.68%. The company’s stock has a 5-day price change of -1.38% and 30.04% over the past three months. ITUB shares are trading -0.86% year to date (YTD), with the 12-month market performance up to 65.26% higher. It has a 12-month low price of $4.09 and touched a high of $7.05 over the same period. ITUB has an average intraday trading volume of 15.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.99%, 10.69%, and 24.48% respectively.
Institutional ownership of Itau Unibanco Holding S.A. ADR (NYSE: ITUB) shares accounts for 17.24% of the company’s 4.85B shares outstanding. Mutual fund holders own 8.22%, while other institutional holders and individual stakeholders account for 9.09% and — respectively.
It has a market capitalization of $33.37B and a beta (3y monthly) value of 0.89. The stock’s trailing 12-month PE ratio is 10.79, while the earnings-per-share (ttm) stands at $0.64. The company has a PEG of 0.94 and the debt-to-equity ratio at 4.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.75% over the week and 1.76% over the month.
Analysts forecast that Itau Unibanco Holding S.A. ADR (ITUB) will achieve an EPS of $0.19 for the current quarter, $0.19 for the next quarter and $0.83 for 2024. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.15 a year ago. Earnings per share for the fiscal year are expected to increase by 27.55%, and 11.06% over the next financial year. EPS should grow at an annualized rate of 11.50% over the next five years, compared to -4.65% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Itau Unibanco Holding S.A. ADR (ITUB) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ITUB, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on October 16, 2023, with the firm’s price target at $6.10.
