Itau Unibanco Banco Holding SA (NYSE:ITUB) declared a monthly dividend on Friday, September 15th, Wall Street Journal reports. Shareholders of record on Tuesday, October 3rd will be given a dividend of 0.0048 per share by the bank on Monday, November 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, October 2nd. This is an increase from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00471.

Itau Unibanco Banco Holding SA has increased its dividend by an average of 3.6% per year over the last three years. Itau Unibanco Banco Holding SA has a dividend payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco Banco Holding SA to earn $1.11 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 5.4%.

Itau Unibanco Banco Holding SA (NYSE:ITUB) traded up 1.67% on Friday, reaching $13.97. 9,797,970 shares of the company’s stock were exchanged. The company has a market cap of $90.79 billion, a P/E ratio of 12.15 and a beta of 1.60. The firm has a 50 day moving average of $12.77 and a 200-day moving average of $12.01. Itau Unibanco Banco Holding SA has a 12-month low of $9.10 and a 12-month high of $14.01.

Itau Unibanco Banco Holding SA announced that its board has approved a stock repurchase plan on Thursday, August 31st that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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Several analysts have recently commented on ITUB shares. J P Morgan Chase & Co lowered shares of Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 19th. Finally, Citigroup Inc. lowered shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.25.

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.

Dividend History for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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