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

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% annually over the last three years. Itaú Unibanco has a payout ratio of 4.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 1.9 %

ITUB stock opened at $6.65 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $65.18 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.84 and a beta of 0.97. The business’s fifty day moving average price is $6.47 and its two-hundred day moving average price is $6.33. Itaú Unibanco has a fifty-two week low of $5.12 and a fifty-two week high of $7.27.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same quarter last year, the business earned $0.18 EPS. On average, equities analysts anticipate that Itaú Unibanco will post 0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Morgan Stanley upgraded Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Itaú Unibanco has an average rating of “Hold” and an average target price of $7.05.

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.