Itau Unibanco Holding SA (NYSE:ITUB) announced a monthly dividend on Thursday, October 19th, Wall Street Journal reports. Stockholders of record on Thursday, November 2nd will be paid a dividend of 0.0048 per share by the bank on Monday, December 11th. This represents a $0.06 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Wednesday, November 1st.
Itau Unibanco Holding SA has raised its dividend payment by an average of 3.6% annually over the last three years. Itau Unibanco Holding SA has a payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco 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%.
Shares of Itau Unibanco Holding SA (ITUB) traded up 1.28% during mid-day trading on Friday, hitting $13.45. The stock had a trading volume of 9,548,374 shares. Itau Unibanco Holding SA has a 12-month low of $9.10 and a 12-month high of $14.59. The stock’s 50-day moving average price is $13.81 and its 200-day moving average price is $12.33. The stock has a market capitalization of $87.41 billion, a price-to-earnings ratio of 11.75 and a beta of 1.63.
ITUB has been the topic of several research reports. ValuEngine raised shares of Itau Unibanco Holding SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Itau Unibanco Holding SA from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 23rd. Citigroup Inc. lowered shares of Itau Unibanco Holding SA from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co lowered shares of Itau Unibanco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price objective on the stock. in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.50.
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Itau Unibanco Holding SA announced that its Board of Directors has approved a stock repurchase program on Thursday, August 31st that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
About Itau Unibanco 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.
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