Itaú Unibanco Holding S.A. (NYSE:ITUB) Declares Dividend of $0.00

Itaú Unibanco Holding S.A. (NYSE:ITUB) declared a dividend on Thursday, September 5th, NASDAQ reports. Investors of record on Wednesday, October 2nd will be paid a dividend of 0.0031 per share by the bank on Friday, November 8th. The ex-dividend date of this dividend is Wednesday, October 2nd.

Itaú Unibanco has raised its dividend by an average of 26.3% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 4.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itaú Unibanco to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 4.5%.

Itaú Unibanco Price Performance

ITUB stock traded down $0.13 during mid-day trading on Friday, hitting $6.61. The company had a trading volume of 15,523,456 shares, compared to its average volume of 17,582,184. The company has a 50-day moving average price of $6.27 and a 200 day moving average price of $6.37. Itaú Unibanco has a 12-month low of $5.12 and a 12-month high of $7.27. The company has a market capitalization of $64.78 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 0.84 and a beta of 0.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The company had revenue of $16.54 billion during the quarter, compared to analyst estimates of $7.72 billion. During the same period in the prior year, the company earned $0.18 earnings per share. On average, research analysts anticipate that Itaú Unibanco will post 0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ITUB. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Itaú Unibanco currently has a consensus rating of “Hold” and an average price target of $7.05.

Itaú 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.