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

Itaú Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Wednesday, April 3rd, Zacks reports. Stockholders of record on Friday, May 3rd will be paid a dividend of 0.003 per share by the bank on Monday, June 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, May 2nd.

Itaú Unibanco has raised its dividend payment by an average of 26.3% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 4.5% indicating that 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 Price Performance

Shares of ITUB opened at $6.23 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.58 and a current ratio of 1.59. Itaú Unibanco has a 52-week low of $4.85 and a 52-week high of $7.27. The business has a fifty day moving average of $6.67 and a 200 day moving average of $6.48.

Itaú Unibanco (NYSE:ITUB) last released its earnings results on Monday, February 5th. The bank reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $8.05 billion. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. On average, research analysts predict that Itaú Unibanco will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

ITUB has been the topic of several research reports. Bank of America upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, January 16th. HSBC cut shares of Itaú Unibanco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th.

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.