Itau Unibanco Holding S.A. Announces Monthly Dividend of $0.00 (NYSE:ITUB)

Itau Unibanco Holding S.A. (NYSE:ITUB) announced a monthly dividend on Wednesday, December 31st. Investors of record on Tuesday, August 4th will be given a dividend of 0.0032 per share by the bank on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, August 4th.

Itau Unibanco has decreased its dividend by an average of 0.1%annually over the last three years. Itau Unibanco has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.4%

ITUB traded up $0.10 during trading on Friday, hitting $7.26. 5,914,043 shares of the stock traded hands, compared to its average volume of 17,702,362. The firm has a 50-day moving average of $7.23 and a 200 day moving average of $6.84. Itau Unibanco has a 12-month low of $4.29 and a 12-month high of $7.89. The firm has a market capitalization of $80.38 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.05 and a beta of 0.65. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58.

Hedge Funds Weigh In On Itau Unibanco

A number of hedge funds have recently made changes to their positions in ITUB. Farther Finance Advisors LLC boosted its stake in Itau Unibanco by 3,590.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after purchasing an additional 4,201 shares during the period. MAI Capital Management bought a new position in shares of Itau Unibanco in the 2nd quarter valued at about $41,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after purchasing an additional 5,355 shares during the period. Community Bank N.A. purchased a new position in Itau Unibanco during the third quarter worth $57,000. Finally, First Horizon Corp purchased a new position in shares of Itau Unibanco during the 3rd quarter worth about $60,000.

About Itau Unibanco

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.