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

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.003 per share by the bank on Monday, December 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, November 12th.

Itaú Unibanco has raised its dividend by an average of 26.3% annually over the last three years. Itaú Unibanco has a payout ratio of 4.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itaú Unibanco to earn $0.88 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 4.5%.

Itaú Unibanco Trading Down 0.2 %

ITUB stock traded down $0.01 during trading on Friday, reaching $6.04. 7,199,938 shares of the stock were exchanged, compared to its average volume of 17,778,543. The firm has a market capitalization of $59.20 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.79 and a beta of 0.97. Itaú Unibanco has a 1 year low of $5.47 and a 1 year high of $7.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The business has a 50 day moving average price of $6.47 and a 200-day moving average price of $6.27.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The company had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, research analysts predict that Itaú Unibanco will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

Separately, UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd.

Itaú Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.