Itau Unibanco Holding S.A. (ITUB) To Go Ex-Dividend on December 11th

Itau Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Friday, November 28th. Shareholders of record on Thursday, December 11th will be given a dividend of 0.0693 per share by the bank on Thursday, May 7th. This represents a c) annualized dividend and a yield of 11.0%. The ex-dividend date of this dividend is Thursday, December 11th.

Itau Unibanco has decreased its dividend payment by an average of 0.1%per year over the last three years. Itau Unibanco has a payout ratio of 461.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Itau Unibanco to earn $0.87 per share next year, which means the company may not be able to cover its $3.78 annual dividend with an expected future payout ratio of 434.5%.

Itau Unibanco Price Performance

Shares of NYSE:ITUB opened at $7.58 on Tuesday. The stock has a market capitalization of $81.67 billion, a P/E ratio of 10.48, a P/E/G ratio of 1.11 and a beta of 0.67. The business has a 50-day moving average of $7.35 and a two-hundred day moving average of $6.96. Itau Unibanco has a fifty-two week low of $4.42 and a fifty-two week high of $8.13. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ITUB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 1st. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Itau Unibanco from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.09.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.