Itaú Unibanco Holding S.A. (NYSE:ITUB) Plans Dividend Increase – $0.05 Per Share

Itaú Unibanco Holding S.A. (NYSE:ITUB) announced a Variable dividend on Friday, August 30th, NASDAQ reports. Shareholders of record on Monday, September 23rd will be paid a dividend of 0.0485 per share by the bank on Wednesday, May 7th. The ex-dividend date of this dividend is Monday, September 23rd. This is an increase from Itaú Unibanco’s previous Variable dividend of $0.0035594.

Itaú Unibanco has raised its dividend by an average of 26.3% per year over the last three years. Itaú Unibanco has a dividend payout ratio of 4.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 3.3 %

Shares of ITUB opened at $6.50 on Friday. The firm has a fifty day simple moving average of $6.42 and a two-hundred day simple moving average of $6.35. Itaú Unibanco has a twelve month low of $5.12 and a twelve month high of $7.27. The stock has a market capitalization of $63.71 billion, a P/E ratio of 8.78, a PEG ratio of 0.85 and a beta of 0.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period last year, the firm earned $0.18 earnings per share. On average, research analysts anticipate that Itaú Unibanco will post 0.78 EPS for the current year.

Analysts Set New Price Targets

ITUB has been the subject of several recent research reports. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.05.

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.