Itau Unibanco Holding S.A. (ITUB) to Issue Monthly Dividend of $0.00 on March 9th

Itau Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Friday, December 12th. Investors of record on Tuesday, February 3rd will be paid a dividend of 0.0033 per share by the bank on Monday, March 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, February 3rd.

Itau Unibanco has decreased its dividend payment by an average of 0.1%annually over the last three years. Itau Unibanco has a dividend payout ratio of 3.7% meaning 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 Price Performance

NYSE:ITUB opened at $8.60 on Friday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. The company has a 50-day moving average of $7.47 and a 200-day moving average of $7.04. Itau Unibanco has a 52 week low of $4.73 and a 52 week high of $9.10. The company has a market capitalization of $95.27 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.05 and a beta of 0.65.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ITUB. Zacks Research upgraded Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Itau Unibanco from $6.80 to $7.77 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Itau Unibanco presently has an average rating of “Buy” and an average price target of $7.77.

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.