Itau Unibanco Holding S.A. (NYSE:ITUB) Plans $0.00 Monthly Dividend

Itau Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Friday, December 12th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of 0.0033 per share by the bank on Thursday, April 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, March 3rd.

Itau Unibanco has increased its dividend by an average of 0.2%annually over the last three years. Itau Unibanco has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. 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 Down 2.3%

Shares of NYSE:ITUB opened at $9.05 on Friday. The company has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $7.44. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.58 and a current ratio of 1.79. The company has a market capitalization of $100.19 billion, a PE ratio of 12.85, a PEG ratio of 0.99 and a beta of 0.62. Itau Unibanco has a 52 week low of $4.73 and a 52 week high of $9.60.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.98 billion. Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. Analysts forecast that Itau Unibanco will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

ITUB has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. Finally, Zacks Research upgraded Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One equities 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. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $9.00.

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.