10 Worst Affordable Stocks to Buy Under $10

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

Price: $5.68

Forward P/E Ratio: 7.67

Earnings Growth This Year: 10.71%

Number of Hedge Fund Holders: 23

Itaú Unibanco Holding S.A. (NYSE:ITUB) is a Brazil-based financial institution that provides a wide range of banking and nonbanking services. It operates through three main business segments including Retail Banking, Wholesale Banking, and Activities with the Market and Corporations.

Itaú Unibanco Holding SA (NYSE:ITUB) is making significant strides in modernizing its operations and embracing new technologies to enhance its long-term performance and competitiveness. The company has made substantial progress in its modernization and cloud migration initiatives. These efforts have yielded impressive results, with a 99% reduction in high-impact incidents reported in the Q4 2024 earnings call. In addition, the company is heavily investing in data science and AI capabilities such as employing more than 470 data scientists and implementing more than 390 generative AI initiatives.

As part of its strategic initiatives, Itaú Unibanco Holding S.A. (NYSE:ITUB) is implementing the “One Itaú” project, which aims to consolidate its digital presence. The company aims to migrate 15 million single-product users to the company’s primary app. It plans to complete the migration of the remaining clients throughout 2025. The stock was held by 23 hedge funds in Q4 2024 and ranks as one of the worst affordable stocks to buy under $10.