Itaú Unibanco Holding S.A. (NYSE:ITUB) Plans Variable Dividend of $0.05

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a Variable dividend on Friday, August 30th, NASDAQ reports. Investors of record on Monday, September 23rd will be paid a dividend of 0.0485 per share by the bank on Wednesday, May 7th. The ex-dividend date is Monday, September 23rd. This is a positive change from Itaú Unibanco’s previous Variable dividend of $0.0035594.

Itaú Unibanco has increased its dividend payment by an average of 26.3% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 4.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Itaú Unibanco to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 4.5%.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $6.51 on Friday. The stock has a market cap of $63.80 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.85 and a beta of 0.97. Itaú Unibanco has a 52 week low of $5.12 and a 52 week high of $7.27. The company’s 50-day moving average price is $6.42 and its 200 day moving average price is $6.35. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The company had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. During the same period last year, the company earned $0.18 EPS. As a group, research analysts forecast that Itaú Unibanco will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ITUB shares. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.05.

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.