Itaú Unibanco Holding S.A. (NYSE:ITUB) Raises Dividend to $0.05 Per Share

by · The Markets Daily

Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) announced a Variable dividend on Friday, August 30th, NASDAQ reports. Shareholders of record on Monday, September 23rd will be given a dividend of 0.0485 per share by the bank on Wednesday, May 7th. The ex-dividend date of this dividend is Monday, September 23rd. This is a positive change from Itaú Unibanco’s previous Variable dividend of $0.0035594.

Itaú Unibanco has raised its dividend payment 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 Down 3.3 %

Shares of Itaú Unibanco stock opened at $6.50 on Friday. Itaú Unibanco has a 1-year low of $5.12 and a 1-year high of $7.27. 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 cap of $63.71 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.85 and a beta of 0.97. The stock’s 50 day simple moving average is $6.42 and its 200-day simple moving average is $6.35.

Itaú Unibanco (NYSE:ITUB – Get Free Report) last issued 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. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. The company had revenue of $16.54 billion during the quarter, compared to analyst estimates of $7.72 billion. During the same period in the prior year, the business posted $0.18 earnings per share. Analysts predict that Itaú Unibanco will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ITUB. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a 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.com, the company has a consensus rating of “Hold” and an average target price of $7.05.

Check Out Our Latest Stock Report on Itaú Unibanco

About Itaú Unibanco

(Get Free Report)

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.

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