Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Wednesday, January 17th, NASDAQ reports. Shareholders of record on Friday, February 2nd will be given a dividend of 0.005 per share by the bank on Monday, March 12th. This represents a $0.06 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, February 1st. This is a boost from Itau Unibanco’s previous monthly dividend of $0.004.

Itau Unibanco has decreased its dividend payment by an average of 9.7% per year over the last three years. Itau Unibanco has a dividend payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 4.4%.

Itau Unibanco (NYSE ITUB) traded up $0.23 during midday trading on Thursday, reaching $14.53. The company’s stock had a trading volume of 6,650,600 shares, compared to its average volume of 9,720,899. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.66 and a quick ratio of 1.66. Itau Unibanco has a 52 week low of $10.02 and a 52 week high of $14.59. The firm has a market cap of $93,131.62, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.59.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Monday, October 30th. The bank reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Itau Unibanco had a return on equity of 17.81% and a net margin of 18.82%. research analysts predict that Itau Unibanco will post 1.16 earnings per share for the current year.

Itau Unibanco declared that its board has initiated a stock buyback program on Monday, December 18th that allows the company to buyback 28,620,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Several research firms have issued reports on ITUB. ValuEngine cut Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. BidaskClub cut Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research cut Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Deutsche Bank upgraded Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.25.

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Itau Unibanco Company Profile

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.

Dividend History for Itau Unibanco (NYSE:ITUB)

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