Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) announced a monthly dividend on Wednesday, April 3rd, Zacks reports. Shareholders of record on Friday, May 3rd will be paid a dividend of 0.003 per share by the bank on Monday, June 10th. This represents a $0.04 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, May 2nd.
Itaú Unibanco has raised its dividend payment by an average of 26.3% annually over the last three years. Itaú Unibanco has a payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Itaú Unibanco to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 4.5%.
Itaú Unibanco Stock Down 1.1 %
NYSE ITUB opened at $6.23 on Tuesday. The business’s 50-day moving average is $6.67 and its 200 day moving average is $6.48. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.59 and a quick ratio of 1.58. Itaú Unibanco has a 1 year low of $4.85 and a 1 year high of $7.27.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on ITUB shares. Bank of America raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, January 16th. HSBC lowered Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.
Check Out Our Latest Report on ITUB
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.
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