Itau Unibanco Holding SA (ITUB) to Issue Monthly Dividend of $0.00 on September 11th

Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Tuesday, July 14th, Wall Street Journal reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.0028 per share by the bank on Friday, September 11th. This represents a $0.03 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, August 3rd.

Itau Unibanco has raised its dividend by an average of 141.6% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Itau Unibanco has a payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco to earn $0.49 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 6.1%.

Itau Unibanco stock opened at $5.10 on Friday. The stock has a 50-day simple moving average of $5.06 and a 200 day simple moving average of $5.53. The stock has a market capitalization of $49.69 billion, a price-to-earnings ratio of 8.50 and a beta of 0.90. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.26. Itau Unibanco has a 12-month low of $3.48 and a 12-month high of $9.48.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Monday, May 4th. The bank reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). Itau Unibanco had a return on equity of 17.17% and a net margin of 12.51%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $7.05 billion. As a group, sell-side analysts anticipate that Itau Unibanco will post 0.39 EPS for the current year.

A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of Itau Unibanco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 6th. Goldman Sachs Group cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Monday, June 15th. Finally, Zacks Investment Research downgraded Itau Unibanco from a “hold” rating to a “sell” rating and set a $5.50 price target on the stock. in a research note on Monday, June 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Itau Unibanco presently has a consensus rating of “Hold” and a consensus price target of $7.75.

Itau Unibanco Company Profile

Ita├║ 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.

Further Reading: What is Cost of Goods Sold (COGS)?

Dividend History for Itau Unibanco (NYSE:ITUB)

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