Itau Unibanco Holding S.A. (NYSE:ITUB) Announces Monthly Dividend of $0.00

Itau Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Friday, December 12th. Stockholders of record on Tuesday, June 2nd will be given a dividend of 0.0033 per share by the bank on Thursday, July 9th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, June 2nd.

Itau Unibanco has increased its dividend by an average of 0.2%per year over the last three years. Itau Unibanco has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Itau Unibanco to earn $0.98 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 3.1%.

Itau Unibanco Price Performance

ITUB opened at $7.90 on Friday. The company has a market capitalization of $87.45 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.85 and a beta of 0.63. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. The firm has a 50-day moving average price of $8.41 and a 200-day moving average price of $8.10. Itau Unibanco has a twelve month low of $5.93 and a twelve month high of $9.60.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%. Equities analysts expect that Itau Unibanco will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ITUB shares. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. lifted their target price on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.