Itau Unibanco Holding SA (NYSE:ITUB) Increases Dividend to $0.00 Per Share

Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Friday, June 19th, Wall Street Journal reports. Investors of record on Thursday, July 2nd will be given a dividend of 0.0029 per share by the bank on Thursday, August 13th. This represents a $0.03 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00264.

Itau Unibanco has a dividend payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco to earn $0.52 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 5.8%.

NYSE ITUB opened at $4.86 on Tuesday. Itau Unibanco has a 1 year low of $3.48 and a 1 year high of $10.01. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $45.70 billion, a PE ratio of 8.10 and a beta of 0.88. The company’s 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $6.15.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Monday, May 4th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Itau Unibanco had a return on equity of 17.17% and a net margin of 12.51%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $7.05 billion. On average, research analysts anticipate that Itau Unibanco will post 0.4 EPS for the current year.

Several analysts have recently weighed in on the stock. Goldman Sachs Group cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Monday, June 15th. UBS Group raised shares of Itau Unibanco from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating and set a $5.50 target price on the stock. in a report on Monday, June 15th. JPMorgan Chase & Co. reduced their target price on shares of Itau Unibanco from $9.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Finally, ValuEngine raised shares of Itau Unibanco from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 6th. Two research 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. The stock presently has a consensus rating of “Hold” and an average target price of $7.75.

About Itau Unibanco

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.

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Dividend History for Itau Unibanco (NYSE:ITUB)

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