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

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a dividend on Wednesday, January 1st,investing.com reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.0025 per share by the bank on Monday, February 10th. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, January 2nd.

Itaú Unibanco has raised its dividend payment by an average of 26.3% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 3.8% indicating that 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 Trading Down 0.8 %

Shares of ITUB opened at $4.96 on Thursday. 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 firm has a market capitalization of $48.61 billion, a price-to-earnings ratio of 6.36, a PEG ratio of 0.68 and a beta of 0.95. The company has a 50-day moving average of $5.63 and a 200 day moving average of $6.08. Itaú Unibanco has a 1-year low of $4.90 and a 1-year high of $7.27.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price objective on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.50.

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.