Itau Unibanco Holding S.A. (NYSE:ITUB) Declares Monthly Dividend of $0.00

Itau Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Friday, December 12th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of 0.0033 per share by the bank on Thursday, April 9th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 3rd.

Itau Unibanco has raised its dividend by an average of 0.2%per year over the last three years. Itau Unibanco has a payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of Itau Unibanco stock opened at $9.05 on Friday. The company has a 50 day moving average of $8.21 and a 200-day moving average of $7.44. The company has a market cap of $100.19 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.62. The company has a current ratio of 1.79, a quick ratio of 1.58 and a debt-to-equity ratio of 2.61. Itau Unibanco has a 1-year low of $4.73 and a 1-year high of $9.60.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.98 billion. Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%. As a group, equities research analysts forecast that Itau Unibanco will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.00.

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.