Itau Unibanco Holding SA Announces — Dividend of $0.00 (NYSE:ITUB)

Itau Unibanco Holding SA (NYSE:ITUB) announced a — dividend on Monday, September 9th, Wall Street Journal reports. Shareholders of record on Wednesday, October 2nd will be given a dividend of 0.0037 per share by the bank on Tuesday, November 12th. This represents a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, October 1st.

Itau Unibanco has raised its dividend by an average of 18.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Itau Unibanco has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco to earn $0.82 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 4.9%.

Shares of NYSE ITUB traded up $0.20 during midday trading on Monday, reaching $8.78. The company had a trading volume of 23,594,076 shares, compared to its average volume of 18,933,453. Itau Unibanco has a one year low of $6.57 and a one year high of $10.80. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average price is $8.86 and its 200-day moving average price is $8.94. The stock has a market cap of $80.49 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.04 and a beta of 0.89.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. Itau Unibanco had a return on equity of 18.40% and a net margin of 15.57%. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.60 billion. As a group, equities research analysts expect that Itau Unibanco will post 0.75 EPS for the current year.

Several brokerages have recently issued reports on ITUB. HSBC upgraded shares of Itau Unibanco from a “reduce” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley upgraded shares of Itau Unibanco from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $9.50 to $13.50 in a report on Wednesday, August 7th. Citigroup raised shares of Itau Unibanco from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 27th. ValuEngine cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Itau Unibanco from a “neutral” rating to an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.75.

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.

Featured Article: What is the Quick Ratio?

Dividend History for Itau Unibanco (NYSE:ITUB)

Receive News & Ratings for Itau Unibanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itau Unibanco and related companies with's FREE daily email newsletter.