Itau Unibanco Holding SA (NYSE:ITUB) Declares $0.00 Monthly Dividend

Itau Unibanco Holding SA (NYSE:ITUB) announced a monthly dividend on Monday, July 8th, Zacks reports. Stockholders of record on Friday, August 2nd will be paid a dividend of 0.004 per share by the bank on Friday, September 13th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, August 1st.

Itau Unibanco has increased its dividend by an average of 18.4% per year over the last three years and has increased its dividend every year for the last 2 years. Itau Unibanco has a payout ratio of 4.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Itau Unibanco to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 6.0%.

Shares of Itau Unibanco stock opened at $9.93 on Wednesday. The company has a market capitalization of $94.42 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91. The business has a 50 day moving average price of $9.03. Itau Unibanco has a 52-week low of $6.57 and a 52-week high of $10.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.86 and a quick ratio of 1.86.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, May 2nd. The bank reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.43 billion. Itau Unibanco had a return on equity of 18.06% and a net margin of 16.01%. Analysts forecast that Itau Unibanco will post 0.76 earnings per share for the current year.

A number of equities analysts have recently issued reports on ITUB shares. Goldman Sachs Group started coverage on Itau Unibanco in a research report on Monday, June 10th. They set a “sell” rating on the stock. ValuEngine upgraded Itau Unibanco from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 2nd. Zacks Investment Research upgraded Itau Unibanco from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, HSBC raised Itau Unibanco from a “reduce” rating to a “hold” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Itau Unibanco Company Profile

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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Dividend History for Itau Unibanco (NYSE:ITUB)

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