Itaú Unibanco Holding S.A. (NYSE:ITUB) Declares Dividend Increase - $0.06 Per Share

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) announced a dividend on Friday, February 7th, NASDAQ Dividends reports. Shareholders of record on Wednesday, February 19th will be paid a dividend of 0.058 per share by the bank on Friday, March 14th. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Itaú Unibanco's previous dividend of $0.0028504.

Itaú Unibanco has decreased its dividend by an average of 26.9% annually over the last three years. Itaú Unibanco has a payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.1 %

NYSE:ITUB traded down $0.01 during midday trading on Thursday, hitting $5.76. The stock had a trading volume of 19,305,174 shares, compared to its average volume of 26,029,789. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $56.40 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.94 and a beta of 0.95. The stock has a 50-day moving average of $5.40 and a 200 day moving average of $5.96. Itaú Unibanco has a one year low of $4.86 and a one year high of $7.23.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The bank reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. As a group, sell-side analysts forecast that Itaú Unibanco will post 0.8 EPS for the current year.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Hsbc Global Res upgraded Itaú Unibanco to a "strong-buy" rating in a research note on Monday, January 13th. UBS Group upgraded Itaú Unibanco from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Finally, HSBC upgraded Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.80 price objective for the company in a research note on Monday, January 13th. 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, Itaú Unibanco has an average rating of "Buy" and an average price target of $6.90.

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.