Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Friday, June 19th, Wall Street Journal reports. Investors of record on Thursday, July 2nd will be given a dividend of 0.0029 per share by the bank on Thursday, August 13th. This represents a $0.03 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00264.
Itau Unibanco has a dividend payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco to earn $0.52 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 5.8%.
NYSE ITUB opened at $4.86 on Tuesday. Itau Unibanco has a 1 year low of $3.48 and a 1 year high of $10.01. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $45.70 billion, a PE ratio of 8.10 and a beta of 0.88. The company’s 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $6.15.
Several analysts have recently weighed in on the stock. Goldman Sachs Group cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Monday, June 15th. UBS Group raised shares of Itau Unibanco from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating and set a $5.50 target price on the stock. in a report on Monday, June 15th. JPMorgan Chase & Co. reduced their target price on shares of Itau Unibanco from $9.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Finally, ValuEngine raised shares of Itau Unibanco from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.75.
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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