Itaú Unibanco Holding S.A. (NYSE:ITUB) Plans Dividend Increase – $0.06 Per Share

Itaú Unibanco Holding S.A. (NYSE:ITUB) declared a dividend on Friday, February 7th,NASDAQ Dividends reports. Stockholders of record on Wednesday, February 19th will be given a dividend of 0.058 per share by the bank on Friday, March 14th. The ex-dividend date is Wednesday, February 19th. This is a boost from Itaú Unibanco’s previous dividend of $0.0028504.

Itaú Unibanco has decreased its dividend payment by an average of 26.9% per year over the last three years. Itaú Unibanco has a payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Itaú Unibanco to earn $0.93 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 3.2%.

Itaú Unibanco Price Performance

ITUB stock opened at $6.10 on Monday. The stock has a market capitalization of $59.74 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. The company’s 50-day moving average is $5.37 and its 200-day moving average is $5.96. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75. Itaú Unibanco has a 1 year low of $4.86 and a 1 year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings data on Thursday, February 6th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a return on equity of 19.76% and a net margin of 12.25%. Equities research analysts expect that Itaú Unibanco will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

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