Itau Unibanco Holding S.A. (NYSE:ITUB – Get 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.
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
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.
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