Itau Unibanco Banco Holding SA (ITUB) Increases Dividend to $0.01 Per Share
Itau Unibanco Banco Holding SA (NYSE:ITUB) announced a monthly dividend on Tuesday, November 14th, Zacks reports. Shareholders of record on Monday, December 4th will be given a dividend of 0.005 per share by the bank on Friday, January 12th. This represents a $0.06 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, December 1st. This is a boost from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00475.
Itau Unibanco Banco Holding SA has raised its dividend payment by an average of 3.6% annually over the last three years. Itau Unibanco Banco Holding SA has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco Banco Holding SA to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.3%.
Itau Unibanco Banco Holding SA (NYSE ITUB) traded down $0.32 during trading hours on Wednesday, reaching $12.37. The company’s stock had a trading volume of 9,106,100 shares, compared to its average volume of 11,421,759. Itau Unibanco Banco Holding SA has a 52 week low of $9.10 and a 52 week high of $14.59. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.57. The stock has a market cap of $82,646.16, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 1.60.
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Itau Unibanco Banco Holding SA announced that its board has approved a stock buyback program on Thursday, August 31st that permits the company to buyback 60,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have commented on ITUB shares. Zacks Investment Research lowered Itau Unibanco Banco Holding SA from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. BidaskClub lowered Itau Unibanco Banco Holding SA from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. ValuEngine upgraded Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Citigroup Inc. cut Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Itau Unibanco Banco Holding SA currently has an average rating of “Hold” and an average price target of $12.50.
About Itau Unibanco Banco Holding SA
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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