Itaú Unibanco Holding S.A. (NYSE:ITUB) Plans $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 given a dividend of 0.0031 per share by the bank on Friday, November 8th. The ex-dividend date of this dividend is Wednesday, October 2nd.

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 4.8% meaning its dividend is sufficiently covered by earnings. Equities 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 1.9 %

Shares of ITUB traded down $0.13 during trading hours on Friday, reaching $6.61. 15,523,456 shares of the company traded hands, compared to its average volume of 17,582,184. The firm has a market cap of $64.78 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 0.84 and a beta of 0.97. Itaú Unibanco has a 12-month low of $5.12 and a 12-month high of $7.27. The stock’s fifty day moving average price is $6.27 and its 200 day moving average price is $6.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping 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 business had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. During the same period in the prior year, the firm earned $0.18 EPS. Sell-side analysts forecast that Itaú Unibanco will post 0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

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