Group 1 - The analyst reiterates a buy recommendation for Itaú (NYSE: ITUB) shares, indicating confidence in the company's performance [1] - This report continues from an initial coverage article published on April 18, 2024, and the last article was published on May 12, 2025, suggesting ongoing analysis and monitoring of the company [1] - The analyst has over 5 years of experience in equity analysis in Latin America, providing in-depth research and insights for informed investment decisions [1]

Key Takeaways ITUBs H1 recurring managerial results rose 8% Y/Y to R$21.7B, driven by stronger financial margins.Managerial financial margin climbed 12.7%, while commissions and fees declined 2% Y/Y.Non-interest expenses rose 9.6% Y/Y, largely due to increased investments in technology.Itau Unibanco Holding S.A. (ITUB) reported recurring managerial results of R$21.7 billion ($3.94 billion) for the first half of 2025, which increased 8% year over year.Higher revenues and an increase in managerial financial m ...

Itaú Unibanco (ITUB) Q2 2025 Earnings Call August 06, 2025 09:00 AM ET Company ParticipantsGustavo Rodrigues - IR Director & Investor Relations OfficerMilton Maluhy Filho - President & CEOTito Labarta - Vice PresidentGabriel Amado de Moura - CFO & Member of Executive CommitteeNicolas Riva - DirectorCarlos Gomez-Lopez - Head - LatAm Financial InstitutionsGustavo RodriguesHello. Good morning everyone. My name is Gustavo and it's a pleasure to have you with us for our 2025 earnings video conference. As always ...

Itaú Unibanco (ITUB) Q2 2025 Earnings Call August 06, 2025 09:00 AM ET Speaker0Hello. Good morning everyone. My name is Gustavo and it's a pleasure to have you with us for our 2025 earnings video conference. As always Milton will soon walk you through our performance and afterwards we'll open the floor for a Q and A session where analysts and investors will be able to interact with us directly. But before handing over to Milton, I'd like to share a few instructions to help you make the most of today's event ...

São Paulo, August 6th 2025 1 Highlights | | | 2Q25 | | | | 2Q25 | | | --- | --- | --- | --- | --- | --- | --- | --- | | Recurring Managerial | | R$11.5 billion | | Recurring Managerial | Consolidated | 23.3% 0.8 p.p. | | | | | | | | | vs 1Q25 0.9 p.p. | vs 2Q24 | | Result | | 3.4% vs. 1Q25 | 14.3% vs. 2Q24 | ROE¹ | Brazil | | | | | | | | | | 24.4% | | | | | | | | | 0.7 p.p. vs 1Q25 0.8 p.p. | vs 2Q24 | | | | | 2Q25 | | | 2Q25 | | | Margin with | | | R$30.3 | Annualized | Consolidated | 9.2% | | | Clients | ...

Core Viewpoint - Bancolombia (CIB) and Banco Itau (ITUB) are both considered as potential undervalued stocks in the foreign banking sector, with a focus on their valuation metrics to determine the better investment option [1]. Valuation Metrics - CIB has a forward P/E ratio of 6.81, while ITUB has a forward P/E of 8.60, indicating that CIB may be more undervalued [5]. - The PEG ratio for CIB is 0.96, compared to ITUB's PEG ratio of 0.97, suggesting that both companies have similar expected EPS growth rates [5]. - CIB's P/B ratio is 1.26, while ITUB's P/B ratio is 1.88, further supporting the notion that CIB is the more attractive value option [6]. Earnings Outlook - Both CIB and ITUB currently hold a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3][6]. - CIB has been assigned a Value grade of B, while ITUB has a Value grade of D, highlighting CIB's superior valuation metrics [6].

Group 1 - The company is the largest private bank in the country by assets and has the highest net profit in the banking system [1] - It leads in high-income and private banking sectors [1] Group 2 - The analyst has a beneficial long position in the shares of ITUB through stock ownership, options, or other derivatives [2] - The article expresses the analyst's own opinions and is not compensated for it, except from Seeking Alpha [2]

Core Viewpoint - Investors are evaluating Banco Macro (BMA) and Banco Itau (ITUB) to determine which stock offers better value for investment at the current time [1] Valuation Metrics - Both BMA and ITUB have a Zacks Rank of 2 (Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3] - BMA has a forward P/E ratio of 6.88, while ITUB has a forward P/E of 8.63, suggesting BMA is more undervalued [5] - The PEG ratio for BMA is 0.26, compared to ITUB's PEG ratio of 0.98, indicating BMA's expected earnings growth is more favorable relative to its price [5] - BMA's P/B ratio is 1.05, while ITUB's P/B ratio is 1.89, further supporting BMA's position as the more attractive value option [6] - BMA has a Value grade of A, while ITUB has a Value grade of C, highlighting the relative undervaluation of BMA [6]

Core Insights - The article compares Banco Macro (BMA) and Banco Itau (ITUB) to determine which stock offers better value for investors [1] Valuation Metrics - Banco Macro has a Zacks Rank of 1 (Strong Buy), while Banco Itau has a Zacks Rank of 2 (Buy), indicating a stronger earnings outlook for BMA [3] - BMA's forward P/E ratio is 7.43, compared to ITUB's 9.03, suggesting BMA is more attractively priced [5] - The PEG ratio for BMA is 0.28, indicating better value relative to expected earnings growth compared to ITUB's PEG ratio of 1.02 [5] - BMA's P/B ratio is 1.14, while ITUB's P/B ratio is 1.97, further supporting BMA's valuation advantage [6] - Based on these metrics, BMA earns a Value grade of B, while ITUB receives a Value grade of D [6] Conclusion - Overall, BMA is positioned as the superior value option due to its solid earnings outlook and favorable valuation metrics [7]

Core Insights - Itaú Unibanco is a significant player in the Latin American banking sector, with a strong presence in Brazil and important operations throughout the region [1] Company Overview - Itaú Unibanco operates as a pillar of the Latin American banking system, indicating its stability and influence in the financial landscape [1]