Itaú Unibanco Holding S.A. (ITUB) to Issue Dividend of $0.00 on June 9th

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

Itaú Unibanco has decreased its dividend by an average of 26.9% per year over the last three years. Itaú Unibanco has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

Shares of NYSE:ITUB opened at $6.20 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. The stock has a market cap of $66.84 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.89 and a beta of 0.65. The company has a 50 day moving average of $5.55 and a 200-day moving average of $5.27. Itaú Unibanco has a one year low of $4.42 and a one year high of $6.37.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 6th. The bank reported $0.17 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%. On average, sell-side analysts forecast that Itaú Unibanco will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms 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 on the stock in a report on Monday, January 13th. Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a report on Monday, January 13th. Finally, UBS Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus 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.