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

Itaú Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Tuesday, June 4th will be paid a dividend of 0.003 per share by the bank on Tuesday, July 9th. This represents a $0.04 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, June 4th.

Itaú Unibanco has raised its dividend by an average of 26.3% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 4.5% indicating that 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 Stock Performance

Shares of ITUB stock traded up $0.03 during mid-day trading on Wednesday, hitting $6.56. 5,207,992 shares of the company’s stock were exchanged, compared to its average volume of 17,114,973. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.20 and a quick ratio of 1.20. Itaú Unibanco has a fifty-two week low of $5.08 and a fifty-two week high of $7.27. The stock has a 50-day simple moving average of $6.58 and a two-hundred day simple moving average of $6.52.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Monday, February 5th. The bank reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. As a group, analysts predict that Itaú Unibanco will post 0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Tuesday, January 16th.

About Itaú Unibanco

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.