Itaú Unibanco Holding S.A. (NYSE:ITUB) Announces Dividend Increase - $0.05 Per Share

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) declared a dividend on Friday, June 6th, investing.com reports. Stockholders of record on Thursday, June 12th will be given a dividend of 0.0454 per share by the bank on Monday, September 8th. This represents a dividend yield of 6.22%. The ex-dividend date of this dividend is Wednesday, June 11th. This is a 1,773.7% increase from Itaú Unibanco's previous dividend of $0.0024229.

Itaú Unibanco has a payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.1%

Shares of NYSE ITUB traded down $0.01 on Monday, reaching $6.56. 26,718,978 shares of the company traded hands, compared to its average volume of 25,816,964. Itaú Unibanco has a fifty-two week low of $4.42 and a fifty-two week high of $6.85. The company has a 50 day moving average of $6.14 and a 200 day moving average of $5.44. The company has a current ratio of 1.34, a quick ratio of 1.75 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $70.67 billion, a PE ratio of 8.40, a P/E/G ratio of 0.89 and a beta of 0.76.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The bank reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $43.07 billion. On average, equities research analysts forecast that Itaú Unibanco will post 0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Itaú Unibanco stock. Royal Bank of Canada boosted its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 445,578 shares of the bank's stock after buying an additional 46,608 shares during the period. Royal Bank of Canada's holdings in Itaú Unibanco were worth $2,450,000 at the end of the most recent reporting period.

About Itaú Unibanco

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.