Itau Unibanco Holding SA (NYSE:ITUB) declared a None dividend on Wednesday, July 31st, NASDAQ reports. Investors of record on Monday, August 19th will be given a dividend of 0.21 per share by the bank on Tuesday, September 3rd. The ex-dividend date is Friday, August 16th. This is an increase from Itau Unibanco’s previous None dividend of $0.004.
Itau Unibanco has increased its dividend payment by an average of 18.4% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Itau Unibanco has a dividend payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itau Unibanco to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 6.0%.
Shares of ITUB stock traded down $0.19 during trading on Wednesday, reaching $8.81. 96,374 shares of the company’s stock were exchanged, compared to its average volume of 18,921,223. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $90.05 billion, a PE ratio of 13.13, a PEG ratio of 1.16 and a beta of 0.93. Itau Unibanco has a twelve month low of $6.57 and a twelve month high of $10.80. The business has a fifty day moving average price of $9.48.
A number of research analysts recently weighed in on ITUB shares. ValuEngine lowered Itau Unibanco from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley raised Itau Unibanco from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $9.50 to $13.50 in a report on Wednesday, August 7th. HSBC raised Itau Unibanco from a “reduce” rating to a “hold” rating in a report on Friday, May 17th. Zacks Investment Research raised Itau Unibanco from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Goldman Sachs Group began coverage on Itau Unibanco in a report on Monday, June 10th. They issued a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $12.75.
Itau Unibanco Company Profile
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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