Itaú Unibanco Holding S.A. (NYSE:ITUB) Declares Dividend of $0.00

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a dividend on Tuesday, March 5th, NASDAQ reports. Investors of record on Monday, April 1st will be paid a dividend of 0.0036 per share by the bank on Thursday, May 9th. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Itaú Unibanco’s previous dividend of $0.003.

Itaú Unibanco has decreased its dividend payment by an average of 53.8% per year over the last three years and has increased its dividend annually for the last 2 consecutive years.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $6.89 on Wednesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.59 and a quick ratio of 1.58. Itaú Unibanco has a fifty-two week low of $4.43 and a fifty-two week high of $7.27. The business has a 50 day moving average price of $6.82 and a 200-day moving average price of $6.30.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Monday, February 5th. The bank reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Itaú Unibanco had a net margin of 10.48% and a return on equity of 17.76%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Equities analysts forecast that Itaú Unibanco will post 0.82 earnings per share for the current year.

Institutional Investors Weigh In On Itaú Unibanco

Several large investors have recently made changes to their positions in ITUB. Renaissance Technologies LLC increased its position in Itaú Unibanco by 244.7% in the first quarter. Renaissance Technologies LLC now owns 20,872,374 shares of the bank’s stock worth $119,181,000 after purchasing an additional 14,818,000 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Itaú Unibanco by 41.4% in the 1st quarter. BlackRock Inc. now owns 37,984,762 shares of the bank’s stock worth $216,894,000 after buying an additional 11,129,486 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Itaú Unibanco by 63.1% in the 2nd quarter. Lazard Asset Management LLC now owns 6,691,525 shares of the bank’s stock valued at $39,479,000 after acquiring an additional 2,588,679 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Itaú Unibanco during the 1st quarter valued at $13,992,000. Finally, UBS Group AG grew its holdings in Itaú Unibanco by 265.1% during the 1st quarter. UBS Group AG now owns 3,329,674 shares of the bank’s stock valued at $19,013,000 after purchasing an additional 2,417,611 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Tuesday, January 16th. HSBC downgraded shares of Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Itaú 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.