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

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) announced a dividend on Thursday, May 1st, investing.com reports. Investors of record on Tuesday, May 6th will be given a dividend of 0.0024 per share by the bank on Monday, June 9th. This represents a yield of 0.46%. The ex-dividend date of this dividend is Monday, May 5th.

Itaú Unibanco has decreased its dividend payment by an average of 26.9% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Itaú Unibanco to earn $0.87 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 3.4%.

Itaú Unibanco Stock Down 1.4 %

NYSE ITUB traded down $0.09 during midday trading on Friday, hitting $6.20. 16,978,061 shares of the company traded hands, compared to its average volume of 24,185,081. The company has a market cap of $66.84 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.89 and a beta of 0.65. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. Itaú Unibanco has a 52 week low of $4.42 and a 52 week high of $6.37. The company's 50-day simple moving average is $5.55 and its 200-day simple moving average is $5.27.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. As a group, equities research analysts forecast that Itaú Unibanco will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ITUB. HSBC upgraded shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 target price for the company in a research note on Monday, January 13th. UBS Group raised Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Finally, Hsbc Global Res raised Itaú Unibanco to a "strong-buy" rating in a report on Monday, January 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $6.27.

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.