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

Itau Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Monday, June 2nd. Investors of record on Tuesday, November 4th will be paid a dividend of 0.0031 per share by the bank on Monday, December 8th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, November 4th.

Itau Unibanco has decreased its dividend by an average of 0.1%annually over the last three years. Itau Unibanco has a payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE ITUB opened at $7.37 on Friday. The company’s fifty day moving average price is $7.09 and its 200 day moving average price is $6.71. Itau Unibanco has a 1 year low of $4.42 and a 1 year high of $7.45. The company has a market capitalization of $79.40 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.84. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. On average, research analysts predict that Itau Unibanco will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITUB. Weiss Ratings restated a “hold (c+)” rating on shares of Itau Unibanco in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, UBS Group restated a “neutral” rating on shares of Itau Unibanco in a research report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $6.27.

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.