Itau Unibanco Holding S.A. (NYSE:ITUB) Increases Dividend to $0.00 Per Share

Itau Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Friday, December 12th. Stockholders of record on Monday, January 5th will be given a dividend of 0.0033 per share by the bank on Monday, February 9th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, January 5th. This is a 4.9% increase from Itau Unibanco’s previous monthly dividend of $0.003105.

Itau Unibanco has decreased its dividend by an average of 0.1%annually over the last three years. Itau Unibanco has a payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Itau Unibanco to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 3.4%.

Itau Unibanco Stock Up 1.0%

Itau Unibanco stock opened at $7.24 on Friday. The business’s 50-day simple moving average is $7.24 and its two-hundred day simple moving average is $6.84. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $80.14 billion, a PE ratio of 10.31, a PEG ratio of 0.96 and a beta of 0.65. Itau Unibanco has a fifty-two week low of $4.29 and a fifty-two week high of $7.89.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research lowered Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Itau Unibanco from $6.80 to $7.77 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Itau Unibanco presently has an average rating of “Moderate Buy” and a consensus target price of $6.88.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.