Itau Unibanco Holding S.A. (NYSE:ITUB) Increases Dividend to $0.00 Per Share

Key Points

• Itau Unibanco Holding S.A. has increased its monthly dividend by 17.6% to $0.0031 per share, with an expected yield of 0.5%.
• The company maintains a healthy payout ratio of 3.7%, indicating strong earnings coverage for the upcoming annual dividend of $0.03.
• As of today, Itau Unibanco's stock price is up 1.2%, currently trading at $7.33, with a market cap of approximately $78.97 billion.

Itau Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) declared a monthly dividend on Monday, June 2nd. Investors of record on Thursday, October 2nd will be given a dividend of 0.0031 per share by the bank on Monday, November 10th. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 2nd. This is a 17.6% increase from Itau Unibanco's previous monthly dividend of $0.00264.

Itau Unibanco has a payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.2%

ITUB opened at $7.33 on Tuesday. The company has a 50 day moving average of $6.88 and a 200 day moving average of $6.46. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. Itau Unibanco has a 12 month low of $4.42 and a 12 month high of $7.44. The company has a market cap of $78.97 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. On average, sell-side analysts expect that Itau Unibanco will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Itau Unibanco

Several institutional investors and hedge funds have recently bought and sold shares of ITUB. Fielder Capital Group LLC grew its position in Itau Unibanco by 10.0% in the 1st quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank's stock valued at $103,000 after acquiring an additional 1,710 shares during the last quarter. Flputnam Investment Management Co. lifted its position in Itau Unibanco by 10.7% during the first quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank's stock valued at $110,000 after acquiring an additional 1,930 shares during the last quarter. Union Bancaire Privee UBP SA grew its holdings in Itau Unibanco by 10.0% in the first quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock worth $121,000 after purchasing an additional 2,000 shares during the last quarter. Hamilton Capital LLC increased its position in shares of Itau Unibanco by 15.5% during the first quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock worth $88,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Itau Unibanco by 31.7% in the 2nd quarter. Parallel Advisors LLC now owns 10,195 shares of the bank's stock worth $69,000 after purchasing an additional 2,455 shares in the last quarter.

Itau 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.

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