Itau Unibanco Banco Holding SA (ITUB) : Traders are bullish on Itau Unibanco Banco Holding SA (ITUB) as it has outperformed the S&P 500 by a wide margin of 7.21% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.21%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.18% in the last 1 week, and is up 7.62% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Itau Unibanco Holding S.A. is up 34.14% in the last 3-month period. Year-to-Date the stock performance stands at 81.18%. The stock has recorded a 20-day Moving Average of 5.16% and the 50-Day Moving Average is 15.76%.
Itau Unibanco Banco Holding SA (NYSE:ITUB): The stock opened at $11.26 on Friday but the bulls could not build on the opening and the stock topped out at $11.34 for the day. The stock traded down to $11.11 during the day, due to lack of any buying support eventually closed down at $11.30 with a loss of -0.35% for the day. The stock had closed at $11.34 on the previous day. The total traded volume was 9,299,904 shares.
Also, Major Brokerage house, JP Morgan maintains its ratings on Itau Unibanco Banco Holding SA (NYSE:ITUB). In the latest research report, JP Morgan raises the target price from $9 per share to $11 per share. According to the latest information available, the shares are now rated Overweight by the analysts at the agency. The rating by the firm was issued on August 16, 2016.
Itau Unibanco Holding S.A. (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil. It operates in four segments: Commercial Bank-Retail, which offers a range of banking services for retail individuals or clients and for companies, including services, such as asset management, investor services, insurance, private pension plans and credit cards issued to account holders; Consumer Credit-Retail, which offers financial products and services to account holders, such as vehicle financing, credit card transactions and consumer financing; Wholesale Bank, which offers wholesale products and services to large and medium-sized companies, as well as investment bank activities and The Activities with the Market and Corporation segment manages the interest income associated with ITAU UNIBANCO HOLDING capital surplus, subordinated debt surplus and the net balance of tax credits and debits.