# Itaú Unibanco Holding S.A. (ITUB)

> Source: Nexqual · https://nexqual.com/ITUB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Itaú Unibanco Holding S.A. (ITUB), nexqual.com/ITUB" · informational, not investment advice.

**Price:** USD 9.49 (-2.16% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 9.7 · day 9.47–9.69 · 52w 6.82–10.2 · market cap $105B · NYQ

## Key facts
- 4 of 80 tracked superinvestors hold ITUB (13F, Q2 2026): 0 new, 1 added, 3 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $3.8M; 6 not under a Rule 10b5-1 plan ($3.8M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +48.8% vs S&P 500 +14.9%; 5Y +260.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 0.22, revenue estimate $48.3B.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold ITUB. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Howard Marks | Oaktree Capital | 2.59% | $97.9M | Reduced -1.7% |
| Dodge & Cox Funds | Dodge & Cox | 0.08% | $149M | Reduced -5.1% |
| First Eagle Investment | First Eagle Investment Management | 0.05% | $28.9M | Added +6.8% |
| Richard Pzena | Pzena Investment Management | <0.01% | $656K | Reduced -64.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Orestes Vanzo Carlos | SMEs Officer (retail segment) | 74,643 | $626K | 7.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-07 | Orestes Vanzo Carlos | SMEs Officer (retail segment) | 60,000 | $494K | 5.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-17 | Guillinet Fajerman Sergio | Chief People and MKT Officer | 39,477 | $376K | 3.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-15 | Guillinet Fajerman Sergio | Chief People and MKT Officer | 20,000 | $189K | 1.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-14 | Guillinet Fajerman Sergio | Chief People and MKT Officer | 50,000 | $469K | 3.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Teixeira Rodrigues Andre Luis | Retail business Officer | 182,800 | $1.6M | 10% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Goldman Sachs | Target raised | Buy | $9.3 → $10.5 |
| 2026-10-08 | HSBC | Downgrade | Buy → Hold | $9.1 |
| 2026-07-07 | JP Morgan | Target raised | Overweight | $9 → $10 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +48.8% | +260.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +49.0% | +29.1% |
| Volatility (annualized) | 35.8% | 31.9% |
| Max drawdown | -23.6% (Feb 2026→Aug 2026) | -29.3% (Mar 2022→Jul 2022) |

## Peers (Banks - Regional)
IBN (ICICI Bank Limited) USD 29.94 +1.35% · HDB (HDFC Bank Limited) USD 22.44 -1.01% · USB (U.S. Bancorp) USD 60.02 +1.64% · MFG (Mizuho Financial Group, Inc. Sp) USD 9.71 -3.00% · PNC (PNC Financial Services Group, I) USD 225.53 +1.18% · LYG (Lloyds Banking Group Plc) USD 5.38 -2.00%

## More
Full page: https://nexqual.com/ITUB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ITUB's own 20-F filed 2026-04-30 (https://www.sec.gov/Archives/edgar/data/1132597/000113259726000132/itub-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Itau BBA International | "•Private Banking: under the corporate structure of Itau BBA International, we manage private banking activities in Miami, U.S., and Zurich, Switzerland, offering specialized financial and asset management services for La…" |
| Partner | Merrill Lynch | "The relationship with our clients is carried out through our proprietary segments and partnerships with major retailers, tech companies and airlines established in Brazil." |
| Partner | Magazine Luiza | "We maintain partnerships with major national retail companies such as Magazine Luiza, Ponto Frio, Pão de Açúcar, and Assaí." |
| Partner | Colombia | "On December 12, 2025, we entered into an agreement with Banco de Bogotá S.A. and Banco de Bogotá (Panamá) S.A., pursuant to which we will assign and transfer certain assets and liabilities related to our retail operation…" |
| Partner | Avenue Holding Cayman | "These initiatives include updates to our client engagement program (Minhas Vantagens), the launch of "The One" credit card, the opening of Investment Centers, enhancements to our digital investment and banking platforms,…" |
| Partner | Grupo Casas Bahia | "In connection with these partnerships, we entered into agreements to acquire the remaining equity interests held by GPA, Assaí and Grupo Casas Bahia in FIC and Banco Investcred S.A." |
| Partner | FIC and Banco Investcred | "In connection with these partnerships, we entered into agreements to acquire the remaining equity interests held by GPA, Assaí and Grupo Casas Bahia in FIC and Banco Investcred S.A." |
| Partner | Technologia Bancaria | "We also have our own ATMs and an additional 14,196 machines via partnership with Technologia Bancaria S.A. ("Tecban"), (as of December 31, 2025), which are a very convenient and efficient way of serving clients, due to t…" |
| Partner | B3 | "In 2001, we executed an agreement with B3 to list our shares in the Level 1 segment, effective immediately after the disclosure of the offer's opening date in Brazil." |
| Competitor | Stellantis (STLA) | "Our main bank competitors in this business are Banco Santander (Brasil), Banco BV and Banco Bradesco, besides manufacturer-owned banks (such as Volkswagen, Stellantis, GM, Honda and Toyota)." |
| Competitor | Honda (HMC) | "Our main bank competitors in this business are Banco Santander (Brasil), Banco BV and Banco Bradesco, besides manufacturer-owned banks (such as Volkswagen, Stellantis, GM, Honda and Toyota)." |
| Competitor | Toyota (TM) | "Our main bank competitors in this business are Banco Santander (Brasil), Banco BV and Banco Bradesco, besides manufacturer-owned banks (such as Volkswagen, Stellantis, GM, Honda and Toyota)." |

Other companies that name ITUB in their own reports (relationship from ITUB's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | BGC Group, Inc. (BGC) | 10-K 2026-03-02 | "On August 22, 2017, BGC Partners entered into a committed unsecured loan agreement with Itau Unibanco S.A." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.22 | $0.23 | -1.5% | $48.31B | 3 |
| Next quarter (ends 2026-12-31) | $0.24 | $0.24 | -0.1% | $50.50B | 3 |
| Current fiscal year (ends 2026-12-31) | $0.89 | $0.89 | -0.5% | $192.85B | 3 |
| Next fiscal year (ends 2027-12-31) | $0.97 | $0.99 | -1.8% | $207.03B | 3 |