Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Monday, February 11th, Wall Street Journal reports. Stockholders of record on Monday, March 4th will be paid a dividend of 0.004 per share by the bank on Thursday, April 11th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, March 1st.
Itau Unibanco has raised its dividend payment by an average of 18.4% per year over the last three years and has increased its dividend every year for the last 2 years. Itau Unibanco has a payout ratio of 297.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Itau Unibanco to earn $0.85 per share next year, which means the company may not be able to cover its $3.18 annual dividend with an expected future payout ratio of 374.1%.
Shares of NYSE:ITUB traded down $0.16 during midday trading on Monday, reaching $9.78. The company’s stock had a trading volume of 15,140,053 shares, compared to its average volume of 20,210,852. The company has a market capitalization of $96.56 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.77 and a quick ratio of 1.77. Itau Unibanco has a fifty-two week low of $6.57 and a fifty-two week high of $11.01.
ITUB has been the topic of a number of recent analyst reports. ValuEngine downgraded Itau Unibanco from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Zacks Investment Research raised Itau Unibanco from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, February 1st. Citigroup downgraded Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. Morgan Stanley raised Itau Unibanco from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 9th. Finally, Bank of America downgraded Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.00.
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About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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