Itau Unibanco Holding S.A. (NYSE:ITUB) Declares Dividend Increase - $0.00 Per Share

Key Points

• Itau Unibanco Holding S.A. announced a 9.0% increase in its dividend, now at $0.0026 per share, with an expected yield of 45.0%.
• The bank has a payout ratio of 3.7%, indicating strong earnings support for its dividend, and anticipates earnings of $0.87 per share in the coming year.
• ITUB stock, trading at $6.77, has demonstrated stability with a 52-week low of $4.42 and a high of $7.13, reflecting a market cap of $72.93 billion.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) announced a dividend on Wednesday, August 27th, investing.com reports. Shareholders of record on Wednesday, September 3rd will be given a dividend of 0.0026 per share by the bank on Wednesday, October 8th. This represents a yield of 45.0%. The ex-dividend date is Tuesday, September 2nd. This is a 9.0% increase from Itau Unibanco's previous dividend of $0.0024229.

Itau Unibanco has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itau 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%.

Itau Unibanco Price Performance

ITUB stock opened at $6.77 on Wednesday. The business has a fifty day moving average of $6.62 and a two-hundred day moving average of $6.13. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. The stock has a market cap of $72.93 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. Itau Unibanco has a 52-week low of $4.42 and a 52-week high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. As a group, research analysts anticipate that Itau Unibanco will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On Itau Unibanco

Institutional investors have recently modified their holdings of the company. Evergreen Capital Management LLC acquired a new position in Itau Unibanco during the 2nd quarter worth $670,000. Tower Research Capital LLC TRC grew its stake in Itau Unibanco by 106.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,831 shares of the bank's stock worth $128,000 after purchasing an additional 9,696 shares in the last quarter. Corient Private Wealth LLC grew its stake in Itau Unibanco by 114.3% during the 2nd quarter. Corient Private Wealth LLC now owns 40,203 shares of the bank's stock worth $273,000 after purchasing an additional 21,443 shares in the last quarter. Vident Advisory LLC grew its stake in Itau Unibanco by 100.5% during the 2nd quarter. Vident Advisory LLC now owns 90,033 shares of the bank's stock worth $611,000 after purchasing an additional 45,131 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new position in Itau Unibanco during the 2nd quarter worth $1,556,000.

About Itau 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.

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