Itau Unibanco Holding S.A. (ITUB) To Go Ex-Dividend on December 2nd

Itau Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Wednesday, December 31st. Shareholders of record on Wednesday, December 2nd will be paid a dividend of 0.0032 per share by the bank on Monday, January 11th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 2nd.

Itau Unibanco has decreased its dividend payment by an average of 0.1%annually over the last three years. Itau Unibanco has a 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 Stock Up 1.0%

Shares of ITUB traded up $0.08 on Friday, hitting $7.24. The company’s stock had a trading volume of 6,316,095 shares, compared to its average volume of 17,702,362. The firm’s fifty day moving average price is $7.23 and its 200-day moving average price is $6.84. Itau Unibanco has a fifty-two week low of $4.29 and a fifty-two week high of $7.89. The firm has a market capitalization of $80.14 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 1.05 and a beta of 0.65. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.33.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ITUB shares. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of Itau Unibanco from $6.80 to $7.77 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, Zacks Research lowered Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

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.