Itau Unibanco Holding SA (NYSE:ITUB) declared a monthly dividend on Tuesday, July 14th, Wall Street Journal reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.0028 per share by the bank on Friday, September 11th. This represents a $0.03 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, August 3rd.
Itau Unibanco has raised its dividend by an average of 141.6% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Itau Unibanco has a payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Itau Unibanco to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 6.1%.
NYSE:ITUB opened at $5.10 on Friday. Itau Unibanco has a 1 year low of $3.48 and a 1 year high of $9.48. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.71 and a quick ratio of 1.71. The business has a fifty day simple moving average of $5.06 and a two-hundred day simple moving average of $5.53. The company has a market capitalization of $49.69 billion, a P/E ratio of 8.50 and a beta of 0.90.
Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Monday, May 4th. The bank reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Itau Unibanco had a net margin of 12.51% and a return on equity of 17.17%. As a group, analysts anticipate that Itau Unibanco will post 0.39 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. Goldman Sachs Group downgraded shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. ValuEngine raised shares of Itau Unibanco from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 6th. Finally, Zacks Investment Research downgraded shares of Itau Unibanco from a “hold” rating to a “sell” rating and set a $5.50 price target for the company. in a report on Monday, June 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.75.
About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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