Itaú Unibanco Holding S.A. (NYSE:ITUB – Get Free Report) announced a Variable dividend on Friday, August 30th, NASDAQ reports. Shareholders of record on Monday, September 23rd will be given 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 a boost from Itaú Unibanco’s previous Variable dividend of $0.0035594.
Itaú Unibanco has raised its dividend payment by an average of 26.3% per year over the last three years. Itaú Unibanco has a dividend payout ratio of 4.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance
NYSE ITUB opened at $6.50 on Friday. The stock has a market capitalization of $63.71 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. Itaú Unibanco has a 1-year low of $5.12 and a 1-year high of $7.27. The business’s fifty day moving average price is $6.42 and its 200-day moving average price is $6.35.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on ITUB shares. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Itaú Unibanco presently has an average rating of “Hold” and a consensus target price of $7.05.
Read Our Latest Report on ITUB
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.
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