Sunday, June 26, 2022

Taking a Closer Look At Itau Unibanco Holding S.A. (ITUB) Following Its Recent Trade

JP Morgan upgraded its Itau Unibanco Holding S.A. [ITUB] rating to an Overweight from a a Neutral in a research note published on Tuesday. PT values the company’s stock at a premium of 7.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in late January with a ‘”an Equal weight”‘ rating. Goldman also remained covering ITUB and has decreased its forecast on June 15, 2020 with a “Neutral” recommendation from previously “Buy” rating. Goldman revised its rating on April 06, 2020. It rated ITUB as “a Buy” which previously was an “a Sell”.


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Price Performance Review of ITUB

On Tuesday, Itau Unibanco Holding S.A. [NYSE:ITUB] saw its stock jump 3.56% to $4.65. On the same session, the stock had its day’s lowest price of $4.64, but rose to a high of $4.71. Over the last five days, the stock has gained 1.75%. Itau Unibanco Holding S.A. shares have risen nearly 24.44% since the year began. Nevertheless, the stocks have fallen -10.40% over the past one year. While a 52-week high of $5.88 was reached on 04/04/22, a 52-week low of $3.59 was recorded on 01/03/22. SMA at 50 days reached $5.05, while 200 days put it at $4.70. A total of 64.83 million shares were traded, compared to the trading of 40.8 million shares in the previous session.

Levels Of Support And Resistance For ITUB Stock

The 24-hour chart illustrates a support level at 4.62, which if violated will result in even more drops to 4.60. On the upside, there is a resistance level at 4.69. A further resistance level may holdings at 4.74. The Relative Strength Index (RSI) on the 14-day chart is 40.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.38, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.64%. Stochastics %K at 13.05% indicates the stock is a buying.

How much short interest is there in Itau Unibanco Holding S.A.?

A steep rise in short interest was recorded in Itau Unibanco Holding S.A. stocks on Apr 28, 2022, growing by 5.0 million shares to a total of 45.41 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 40.41 million shares. There was a rise of 11.01%, which implies that there is a positive sentiment for the stock.

Itau Unibanco Holding S.A. [ITUB] – Who Are The Largest Shareholders?

In filings from Schroder Investment Management Lt, it is revealed that the company now owns 91,386,843 shares, or roughly 1.89% of the outstanding ITUB shares. In other words, the investor’s shares have fallen by -2,396,340 from its previous 13-F filing of 93783183.0. Additionally, Goldman Sachs & Co. LLC decreased -23.42% of its stake after which the total value it holdings stand at $474,450,421, while Orbis Investment Management Ltd. added 79.06% of its stake to hold $446.59 million in the firm. Over the last quarter, Schroder Investment Management No sold -4,362,404 shares of Itau Unibanco Holding S.A., while Westwood Global Investments LLC sold -866,203 shares. At present, Dodge & Cox is holding 28,467,305 shares valued at $156.0 million. The Vanguard Group, Inc. owned 27,187,749 shares of the company at the time of its most recent 13F filing, worth $148.99 million.

According to FactSet, Itau Unibanco Holding S.A.’s share price will average $5.73 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.36 percent from its previous closing price of $4.49. Analysts expect Itau Unibanco Holding S.A. stock to reach the higher price of $7.20, while the lowest price estimate is $5.00. However, 4 analysts have rated ITUB stock as an Overweight in their predictions for 2022.

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