Itaú Unibanco Holding S.A. (ITUB) to Issue Dividend of $0.00 on November 8th

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a dividend on Thursday, September 5th, NASDAQ reports. Shareholders of record on Wednesday, October 2nd will be paid a dividend of 0.0031 per share by the bank on Friday, November 8th. The ex-dividend date is Wednesday, October 2nd.

Itaú Unibanco has increased its dividend by an average of 26.3% per year 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 Up 0.4 %

Shares of ITUB opened at $6.78 on Monday. The stock has a fifty day moving average price of $6.46 and a two-hundred day moving average price of $6.33. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $66.45 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.84 and a beta of 0.97. Itaú Unibanco has a 52-week low of $5.12 and a 52-week high of $7.27.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. During the same quarter in the prior year, the company earned $0.18 EPS. Analysts predict that Itaú Unibanco will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ITUB. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.05.

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.