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Itau Unibanco
(NYSE:ITUB)
Itau Unibanco (ITUB) vs. SPDR S&P 500 ETF (SPY)
Itau Unibanco Business Overview & Revenue Model
Itau Unibanco Earnings Call Summary
Itau Unibanco Financial Statement Overview
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Itau Unibanco Technical Analysis
Itau Unibanco Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | ― | ― | |
72 Outperform | $34.17B | 9.71 | 11.78% | 2.48% | 5.89% | 34.68% | |
71 Outperform | $20.37B | 15.81 | 21.29% | 5.56% | -11.64% | -8.75% | |
69 Neutral | $79.01B | 10.90 | 19.90% | 9.77% | 11.82% | 3.41% | |
69 Neutral | $15.35B | 13.66 | 24.13% | 4.29% | 12.43% | 56.30% | |
66 Neutral | $23.62B | 22.67 | 9.34% | 4.98% | 1.13% | -11.93% | |
61 Neutral | $34.61B | 8.71 | 11.78% | 2.80% | 5.89% | 34.01% |
Itau Unibanco Corporate Events
On December 23, 2025, Itaú Unibanco Holding S.A. filed a Form 6-K with the U.S. Securities and Exchange Commission to publicly disclose an updated global Policy for Trading Itaú Unibanco Holding S.A. Securities, applicable to securities issued by the bank and its controlled companies in Brazil or indexed to them. The policy details governance structures such as a Disclosure and Trading Committee chaired by the Investor Relations Officer, defines who is deemed a “Bound Person” (including controlling shareholders, executives, board members, certain employees, close family members, and related legal entities), and lays out comprehensive trading restrictions, including blackout periods around undisclosed material information, exceptional restriction windows at the discretion of the Investor Relations Officer, and minimum holding periods between transactions. The framework also clarifies how trading limits apply to third‑party fund management within the Itaú conglomerate and restricts certain operations such as share lending and derivatives activities by insiders, signaling a tightening and formalization of internal controls and compliance practices aimed at enhancing market transparency and protecting minority investors and other stakeholders.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 24, 2025, Itaú Unibanco Holding S.A. filed a Form 6-K in the United States unveiling a revised remuneration policy for its administrators in Brazil, covering statutory directors and board members across the Itaú Unibanco conglomerate. The policy formalizes a merit-based framework designed to attract, retain and reward executives while tightly aligning pay with risk management, shareholder interests and the bank’s culture, including requirements that at least 70% of variable compensation be paid in shares or share-based instruments, deferred over a minimum of three years. It embeds robust risk-sensitive mechanisms such as deferral, malus and clawback provisions that allow full or partial reversal of unpaid variable remuneration in the event of earnings deterioration, negative results, or misconduct, while also separating pay incentives for control and risk functions from the performance of the businesses they oversee to avoid conflicts of interest. The policy emphasizes non-discrimination, the integration of qualitative behavioral expectations, and the consideration of environmental, social and governance (ESG) factors in variable remuneration, reinforcing Itaú Unibanco’s commitment to long-term sustainable performance and stronger governance, with direct implications for executive accountability and protection of shareholders and other stakeholders.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 24, 2025, Itaú Unibanco Holding S.A. filed a Form 6-K in the United States to publicly disclose an updated Social, Environmental and Climate Risk Policy that applies to the bank and its subsidiaries. The policy formalizes how social, environmental and climate (SEC) risks are integrated into traditional risk categories, in line with Brazilian Central Bank CMN Resolution 4,557/17 and related regulations, and sets out principles of relevance and proportionality for identifying, measuring, monitoring and mitigating such risks. It establishes guidelines for managing SEC risks across financial, reputational and legal dimensions; embeds ESG criteria into the assessment of clients and suppliers; mandates ongoing training for staff involved in risk disciplines; and reinforces a three-lines-of-defense governance model with clear roles for the risk management department, business units and board-level committees. The move underscores Itaú Unibanco’s intention to align its risk appetite and governance structure with sustainability standards, strengthen regulatory compliance and market best practice, and engage counterparties in transitioning toward a cleaner and more sustainable economy, with implications for how the bank grants credit, manages exposures and safeguards its reputation.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 18, 2025, Itaú Unibanco’s Fiscal Council met in São Paulo and unanimously endorsed a management proposal to increase the bank’s capital stock by R$12.85 billion, raising it from R$124.06 billion to R$136.91 billion through the capitalization of statutory revenue reserves. The Council further supported distributing this increase to shareholders via a share bonus of three new shares for every 100 shares of the same type held, and recommended that the proposal be submitted to the Board of Directors for approval, signaling continued balance-sheet strengthening and an equity-friendly capital management strategy for investors.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
At a board meeting held on 18 December 2025, Itaú Unibanco’s directors unanimously approved a R$12.85 billion increase in the bank’s subscribed and paid-in capital via the capitalization of statutory revenue reserves from its 31 December 2024 balance sheet, raising total capital from R$124.06 billion to R$136.91 billion. The move will be executed through the issuance of 321.17 million new book-entry shares, split between common and preferred stock, distributed as a 3% stock bonus (three new shares for every 100 held) to all shareholders, including treasury shares, with entitlement dates set for 23 December 2025 in Brazil and 29 December 2025 in the U.S. and corresponding 3% bonus issuance for ADR holders. The bonus shares, which will trade ex-rights in Brazil from 26 December 2025 and carry full earnings rights from 30 December 2025, are priced for tax purposes at R$40.00 per share, while the bank affirmed it will maintain its current monthly interest on capital per share and the minimum annual dividend on preferred shares, implying a 3% increase in total cash distributed given the larger share base. Fractional shares arising from the bonus may be traded between 2 January and 2 February 2026 and any residual fractions will be auctioned on B3, and the capital change will be formally reflected through a bylaw amendment at the next shareholders’ meeting, bringing the total number of outstanding shares to 11.03 billion.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 18, 2025, Itaú Unibanco’s board approved a BRL 12.85 billion increase in subscribed and paid‑in capital, raising it from BRL 124.06 billion to BRL 136.91 billion by capitalizing statutory revenue reserves, a move that reshuffles balance‑sheet accounts without changing shareholders’ equity. As part of this capitalization, the bank will issue 321.17 million new book‑entry shares—163.62 million common and 157.55 million preferred—as a 3% stock bonus, granting three new shares of the same type for every 100 held, including treasury shares, with record dates set for December 23, 2025 in Brazil and December 29, 2025 in the U.S.; the bonus shares will carry full rights to earnings from December 30, 2025, monthly interest on capital per share will remain unchanged (raising the total cash outlay by 3%), fractional shares will be pooled and auctioned on B3 after a trading window in January–February 2026, and Itaú’s NY‑listed ADRs will receive an equivalent 3% bonus, preserving the 1:1 ratio with preferred shares. This operation effectively rewards shareholders with additional equity while signaling balance‑sheet strength and maintaining existing dividend and interest-on-capital policies, potentially improving liquidity in both Brazilian and U.S. markets without diluting overall ownership value.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 16, 2025, Itaú Unibanco announced its decision to exercise the call option for its Tier 2 Subordinated Notes, originally issued on January 15, 2021, with a value of USD 500 million. The early redemption, scheduled for January 15, 2026, will impact the company’s Tier 2 capital ratio by 18 basis points, reflecting a strategic financial maneuver to optimize its capital structure.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 11, 2025, Itaú Unibanco Holding S.A. submitted a report to the U.S. Securities and Exchange Commission, detailing updates to its reference form. The report includes information on ongoing legal proceedings, such as a significant civil case involving a potential liability of R$13.8 billion, which the bank deems to have a remote chance of loss. The disclosure of these legal matters highlights Itaú Unibanco’s transparency in addressing potential financial risks, which could impact its financial position and operations.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 9, 2025, Itaú Unibanco announced the payment schedule for its monthly interest on capital (IOC) for the year 2026. Shareholders will receive BRL0.01765 per share, with a net interest of BRL0.0150 per share after a 15% income tax withholding. The payments will be distributed monthly, starting from February 2, 2026, for the base period ending December 30, 2025, and continuing through January 4, 2027, for the base period ending November 30, 2026. This announcement underscores Itaú Unibanco’s commitment to providing consistent returns to its shareholders.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On December 8, 2025, Itaú Unibanco announced its agreement to acquire equity interests in Financeira Itaú CBD S.A. and Banco Investcred S.A. from Companhia Brasileira de Distribuição, Grupo Casas Bahia, and Sendas Distribuidora. The transactions, pending regulatory approvals, aim to consolidate Itaú Unibanco’s control over these entities, although they are not expected to significantly impact the company’s financial results. Clients of the acquired entities will continue to receive services without disruption.
The most recent analyst rating on (ITUB) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 27, 2025, Itaú Unibanco announced its Board of Directors’ approval for the payment of dividends and interest on capital, totaling BRL 23.4 billion, to be distributed to shareholders. The dividends will be paid on December 19, 2025, and the interest on capital by April 30, 2026. Additionally, the company approved the cancellation of 78,850,638 preferred shares, valued at R$ 3 billion, acquired through its Buyback Program, without reducing the subscribed share capital. This move reflects the company’s commitment to shareholder value and transparency.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 12, 2025, Itaú Unibanco announced its updated Environmental, Social, and Climate Responsibility Policy, which outlines the principles and guidelines for its operations and stakeholder relationships. This policy emphasizes the bank’s commitment to sustainable development, human rights, and climate change mitigation, aiming to integrate these aspects into its business strategies. The policy is part of Itaú Unibanco’s broader ESG strategy, which includes sustainable finance, climate transition, and diversity and development initiatives. This move is expected to enhance the company’s industry positioning by aligning its operations with global sustainability standards and addressing the expectations of stakeholders.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 11, 2025, Itaú Unibanco announced its decision to repurchase all of its Tier 2 Subordinated Financial Bills, which were initially issued between November 12 and December 2, 2020, and are set to mature in 2030. This repurchase, totaling R$3.6 billion, is expected to impact the company’s Tier 2 capital ratio by approximately 20 basis points, reflecting a strategic move to optimize its capital structure.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco released its condensed financial statements for the first nine months of 2025, highlighting a recurring result of R$33.1 billion and a credit portfolio expansion in Brazil. The bank also introduced new features for business clients, such as a crypto fund management structure and enhanced security measures against fraud, demonstrating its commitment to innovation and client service. Additionally, Itaú Unibanco exercised call options on Tier 1 Subordinated Notes and issued Perpetual Subordinated Financial Bills, impacting its capital structure. The bank received multiple awards, including recognition as the Best Cash Management Bank in Brazil by Euromoney.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco released its updated financial projections for the fiscal year 2025, maintaining consistency with the previous year’s outlook. The projections include key indicators such as total loan portfolio, financial margins, and cost of credit. The company emphasizes that these projections are subject to market conditions and economic performance, both domestically and internationally. The announcement underscores Itaú Unibanco’s strategic focus on managing its capital efficiently, with a cost of capital around 15% per year, and highlights the potential impact of various risk factors on its operations.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco released its Management Discussion & Analysis and Condensed Financial Statements for the third quarter of 2025. The financial results indicate a recurring managerial result of R$11,876 million, reflecting a 11.3% increase from the previous year. The company reported operating revenues of R$46,567 million, driven by strong performance in its financial margin and insurance operations. The nonperforming loans ratio remained stable at 1.9%, and the efficiency ratio improved to 39.5%. These results underscore Itaú Unibanco’s robust financial health and its ability to maintain strong profitability and operational efficiency, which are crucial for its stakeholders and market positioning.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco released its financial results for the third quarter of 2025, highlighting a recurring managerial return on equity of 25.4% in Brazil. The bank reported a consolidated credit portfolio of R$1.402 trillion, marking a 6.4% increase compared to the previous year. The results indicate stable credit quality and a robust performance in services and insurance, reinforcing its market leadership in private mortgage credit with a 47% market share. The announcement underscores Itaú Unibanco’s commitment to transparency and its strategic focus on maintaining strong financial health and market leadership.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco’s Fiscal Council convened to review the company’s financial statements for the period from January to September 2025. The council, chaired by Gilberto Frussa, unanimously concluded that the financial documents accurately represent the company’s capital structure, financial position, and activities, as confirmed by an unqualified report from PricewaterhouseCoopers. This resolution underscores the company’s stable financial health and transparency, reinforcing its robust position within the financial sector.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
In the third quarter of 2025, Itaú Unibanco reported a significant profit of R$11.9 billion, marking an 11.3% increase from the previous year. The bank’s loan portfolio reached R$1.4 trillion, with low delinquency rates, underscoring its robust financial health and strategic growth. The adoption of artificial intelligence and digital personalization has enhanced customer experiences and operational efficiency. The bank’s financial margin with clients grew by 11.0% year-over-year, supported by a responsible expansion of the credit portfolio. Additionally, the bank revised its financial margin projection for 2025, anticipating growth due to favorable market dynamics.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco announced a revised projection for the year 2025, highlighting a cost of capital of around 15.0% per year starting February 2025. The company emphasized that these projections are based on current market conditions and economic performance, indicating that actual results may vary. This announcement reflects Itaú Unibanco’s strategic planning and its adaptability to market dynamics, which is crucial for stakeholders to consider in their investment decisions.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco’s Board of Directors convened to review the financial statements for the period from January to September 2025. The board unanimously approved the financial statements, which had received a favorable opinion from the Supervisory Council and an unqualified report from the Independent Auditors. This approval underscores the company’s financial transparency and commitment to regulatory compliance, as the documents will be submitted to relevant securities commissions and exchanges in Brazil and the U.S.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On November 4, 2025, Itaú Unibanco released its third-quarter 2025 Risk and Capital Management report, highlighting its robust risk management processes and capital adequacy. The report, aligned with the Central Bank of Brazil’s regulations, demonstrates Itaú Unibanco’s commitment to maintaining capital levels above minimum requirements, with a Total Capital Ratio of 16.4% as of September 30, 2025. This strategic focus on risk management and capital adequacy underscores the bank’s efforts to ensure financial stability and support business growth, reinforcing its position in the Brazilian financial market.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On October 30, 2025, Itaú Unibanco Holding S.A. held a Board of Directors meeting where significant changes in its executive team were announced. Thales Ferreira Silva and João Filipe Fernandes da Costa Araújo were removed from their positions as officers, with Albano Manoel Almeida and Flavio Ribeiro Iglesias elected as their successors. These changes are part of the company’s ongoing efforts to strengthen its leadership team, with the new officers’ appointments pending ratification by the Central Bank of Brazil.
The most recent analyst rating on (ITUB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On October 22, 2025, Itaú Unibanco Holding S.A. submitted a Form 6-K report to the United States Securities and Exchange Commission, detailing updates to its reference form. The updates include changes to various sections of the form, reflecting the company’s ongoing compliance with regulatory requirements. This submission underscores Itaú Unibanco’s commitment to transparency and adherence to international financial reporting standards, which is crucial for maintaining investor confidence and its competitive position in the global financial market.
The most recent analyst rating on (ITUB) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On October 14, 2025, Itaú Unibanco announced an upcoming interactive meeting to present its third-quarter 2025 financial results. The meeting, scheduled for November 4th, will feature a Q&A session with key executives, including CEO Milton Maluhy and CFO Gabriel Amado de Moura. This event is expected to provide stakeholders with insights into the company’s financial performance and strategic direction, potentially impacting investor perceptions and market positioning.
The most recent analyst rating on (ITUB) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On October 8, 2025, Itaú Unibanco announced the issuance of Perpetual Subordinated Financial Bills totaling R$3 billion, aimed at professional investors. These financial instruments will contribute to the company’s Additional Tier 1 capital, potentially enhancing its Tier 1 capital ratio by 20 basis points, subject to Central Bank of Brazil’s regulations.
The most recent analyst rating on (ITUB) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.
On October 6, 2025, Itaú Unibanco announced its updated Social, Environmental, and Climate Risk Policy, which emphasizes the importance of managing these risks to ensure sustainable development and compliance with regulatory requirements. The policy aims to integrate these risks with traditional financial risks, ensuring that strategic decisions align with sustainability goals. The announcement highlights the bank’s commitment to engaging clients and suppliers in sustainable practices, thus contributing to a broader positive impact on society and the environment.
The most recent analyst rating on (ITUB) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Itau Unibanco stock, see the ITUB Stock Forecast page.