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

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a Variable dividend on Friday, August 30th, NASDAQ reports. Stockholders 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 boost from Itaú Unibanco’s previous Variable dividend of $0.0035594.

Itaú Unibanco has increased 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. 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 3.1 %

ITUB opened at $6.51 on Friday. The firm has a market capitalization of $63.80 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.85 and a beta of 0.97. The firm’s 50 day moving average is $6.42 and its 200-day moving average is $6.35. Itaú Unibanco has a 52-week low of $5.12 and a 52-week high of $7.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts expect that Itaú Unibanco will post 0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ITUB shares. UBS Group downgraded shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.