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

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a dividend on Tuesday, December 24th,NASDAQ Dividends reports. Shareholders of record on Tuesday, February 4th will be paid a dividend of 0.0029 per share by the bank on Thursday, March 13th. The ex-dividend date is Tuesday, February 4th. This is an increase from Itaú Unibanco’s previous dividend of $0.0024753.

Itaú Unibanco has decreased its dividend by an average of 26.7% per year over the last three years. Itaú Unibanco has a dividend payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Itaú Unibanco to earn $0.82 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 3.7%.

Itaú Unibanco Stock Down 0.1 %

Shares of NYSE ITUB opened at $5.80 on Friday. The company has a market capitalization of $56.80 billion, a P/E ratio of 7.43, a P/E/G ratio of 0.64 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. The company has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $5.97. Itaú Unibanco has a 1 year low of $4.86 and a 1 year high of $7.27.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ITUB. JPMorgan Chase & Co. dropped their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. HSBC raised Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 target price for the company in a research report on Monday, January 13th. Hsbc Global Res raised shares of Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. Finally, UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Itaú Unibanco presently has an average rating of “Buy” and a consensus target price of $6.90.

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.