Itau Unibanco Holding S.A. (ITUB) To Go Ex-Dividend on August 4th

Itau Unibanco Holding S.A. (NYSE:ITUBGet Free Report) announced a monthly dividend on Wednesday, December 31st. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.0032 per share by the bank on Wednesday, September 9th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, August 4th.

Itau Unibanco has raised its dividend by an average of 0.2%annually over the last three years. Itau Unibanco has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco to earn $0.98 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 3.1%.

Itau Unibanco Trading Up 0.4%

Shares of ITUB opened at $8.47 on Friday. Itau Unibanco has a 1-year low of $6.00 and a 1-year high of $9.60. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.53. The firm’s 50-day moving average price is $8.08 and its 200-day moving average price is $8.36. The firm has a market capitalization of $93.87 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.91 and a beta of 0.58.

Itau Unibanco (NYSE:ITUBGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%.The company had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. Sell-side analysts anticipate that Itau Unibanco will post 0.89 EPS for the current year.

Analysts Set New Price Targets

ITUB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Read Our Latest Research Report on ITUB

Itau Unibanco Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Itau Unibanco (NYSE:ITUB)

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