Itau Unibanco Holding S.A. (ITUB) to Issue Monthly Dividend of $0.00 on December 8th

Itau Unibanco Holding S.A. (NYSE:ITUB) declared a monthly dividend on Wednesday, December 31st. Stockholders of record on Wednesday, November 4th will be paid a dividend of $0.0032 per share by the bank on Tuesday, December 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 4th.

Itau Unibanco has raised its dividend payment by an average of 0.2% 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 $0.96 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 3.1%.

Itau Unibanco Price Performance

Shares of NYSE:ITUB opened at $7.13 on Monday. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. Itau Unibanco has a 1-year low of $6.82 and a 1-year high of $10.20. The company has a market capitalization of $78.97 billion, a PE ratio of 9.33, a PEG ratio of 0.89 and a beta of 0.58. The business has a fifty day moving average price of $8.52 and a 200-day moving average price of $8.36.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.29 billion. As a group, equities analysts expect that Itau Unibanco will post 0.88 EPS for the current fiscal year.

Insider Activity at Itau Unibanco

In related news, insider Vanzo Orestes sold 74,643 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total value of $625,508.34. Following the completion of the sale, the insider directly owned 933,371 shares in the company, valued at approximately $7,821,648.98. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Itau Unibanco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ARGA Investment Management LP raised its holdings in Itau Unibanco by 14.7% in the third quarter. ARGA Investment Management LP now owns 8,612,478 shares of the bank’s stock valued at $73,464,000 after acquiring an additional 1,103,340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Itau Unibanco during the third quarter worth approximately $814,000. Summit Global Investments increased its holdings in shares of Itau Unibanco by 241.0% in the third quarter. Summit Global Investments now owns 59,798 shares of the bank’s stock valued at $510,000 after buying an additional 42,263 shares in the last quarter. Choreo LLC acquired a new stake in Itau Unibanco during the 3rd quarter worth about $606,000. Finally, Victory Financial Group LLC grew its holdings in shares of Itau Unibanco by 42.5% during the third quarter. Victory Financial Group LLC now owns 25,492 shares of the bank’s stock valued at $217,000 after buying an additional 7,605 shares in the last quarter.

About Itau Unibanco

Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.