Itaú Unibanco Holding S.A. (NYSE:ITUB) Plans Dividend of $0.00

Itaú Unibanco Holding S.A. (NYSE:ITUB - Get Free Report) declared a dividend on Wednesday, January 1st,investing.com reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.0025 per share by the bank on Monday, February 10th. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, January 2nd.

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 3.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Itaú Unibanco to earn $0.82 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 3.7%.

Itaú Unibanco Price Performance

Itaú Unibanco stock traded down $0.04 during midday trading on Wednesday, reaching $4.96. The company's stock had a trading volume of 7,259,514 shares, compared to its average volume of 19,540,924. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. Itaú Unibanco has a fifty-two week low of $4.90 and a fifty-two week high of $7.27. The firm has a market capitalization of $48.61 billion, a PE ratio of 6.36, a P/E/G ratio of 0.68 and a beta of 0.95. The stock's 50 day simple moving average is $5.63 and its 200 day simple moving average is $6.08.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Itaú Unibanco presently has an average rating of "Moderate Buy" and an average target price of $7.50.

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.