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

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 increased its dividend by an average of 26.3% annually over the last three years. Itaú Unibanco has a dividend payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NYSE:ITUB opened at $4.96 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $48.61 billion, a PE ratio of 6.36, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Itaú Unibanco has a 12-month low of $4.90 and a 12-month high of $7.27. The firm has a 50-day moving average price of $5.66 and a 200 day moving average price of $6.08.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their target price on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.50.

About Itaú Unibanco

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.