Itaú Unibanco Holding S.A. to Issue Dividend of $0.00 (NYSE:ITUB)

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) declared a dividend on Thursday, May 1st, investing.com reports. Investors of record on Tuesday, May 6th will be given a dividend of 0.0024 per share by the bank on Monday, June 9th. This represents a yield of 0.46%. The ex-dividend date of this dividend is Monday, May 5th.

Itaú Unibanco has decreased its dividend payment by an average of 26.9% per year over the last three years. Itaú Unibanco has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Itaú Unibanco to earn $0.87 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 3.4%.

Itaú Unibanco Price Performance

ITUB stock traded down $0.05 during midday trading on Tuesday, reaching $6.11. 15,745,260 shares of the stock were exchanged, compared to its average volume of 24,139,094. Itaú Unibanco has a 52 week low of $4.42 and a 52 week high of $6.37. The company has a fifty day moving average price of $5.57 and a 200 day moving average price of $5.27. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. The stock has a market capitalization of $65.82 billion, a PE ratio of 7.81, a P/E/G ratio of 0.89 and a beta of 0.76.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. As a group, analysts expect that Itaú Unibanco will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITUB. Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a research note on Monday, January 13th. HSBC raised Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 target price on the stock in a report on Monday, January 13th. Finally, UBS Group raised Itaú Unibanco from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Itaú Unibanco currently has an average rating of "Buy" and a consensus target price of $6.27.

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.