10 Best Affordable Stocks Under $10 to Buy

4. Itaú Unibanco Holding S.A. (NYSE:ITUB)

Number of Hedge Fund Holders: 25

Share Price as of October 18, 2024: $6.21

Forward P/E as of October 18, 2024: 7.86

Itaú Unibanco Holding S.A. (NYSE:ITUB) is a financial services company that ranks fourth on our list of the most affordable stocks under $10 to buy now. The company is headquartered in Brazil and now has more than 70 million clients. The company provides corporate and investing banking services, private banking services, asset management, and retail business services to customers in 18 countries.

The full-service commercial bank also provides discounts, and promotions, and offers exclusive deals and solutions for clients every day. The company has a legacy of 100 years that is still carrying momentum today. In the second quarter of 2024, Itaú Unibanco Holding S.A. (NYSE:ITUB) generated R$41.8 billion ($7.34 billion) in revenue. The company has been investing significantly in optimizing efficiency gains. Compared to 2018, the company has decreased infrastructure costs by 37% and has increased solution development investments by 2X.

On the customer front, Itaú Unibanco (NYSE:ITUB) has been working to improve its presence digitally. In September, the company launched an update to its Superapp. The new update includes a Security Hub, a function that brings together all the information and services offered by the bank against scams and financial fraud. The new addition places the company as an emerging leader in financial security and banking.

Overall, Itaú Unibanco Holding S.A. (NYSE:ITUB) is a prominent name in the financial services industry and we say that because of its vast network. The company has more than 3,300 branches and over 40,000 ATMs in Brazil and other locations across Latin America. The company has strong fundamentals and solid financial performance, contributing to its position on our list.