Intesa Sanpaolo SpA experienced a significant increase in trading activity on Thursday, with approximately 2,411,315 shares exchanged during mid-day trading. This figure marks a notable rise of 354% compared to the previous session’s volume of 530,702 shares. The stock was last quoted at $40.94, slightly up from its prior closing price of $40.79.
Analysts have recently weighed in on Intesa Sanpaolo’s stock, providing a spectrum of ratings. On January 5, 2024, Citigroup reaffirmed a “buy” rating. Meanwhile, Morgan Stanley issued an “overweight” rating on November 24, 2023. Conversely, Keefe, Bruyette & Woods downgraded the stock from a “moderate buy” to a “hold” rating on November 14, 2023. Similarly, Zacks Research lowered its rating from “strong-buy” to “hold” on November 5, 2023. Royal Bank of Canada initiated coverage of the stock on October 15, 2023, giving it a “moderate buy” rating.
Currently, one analyst has assigned a “strong buy” rating, three have given a “buy” rating, and four analysts have opted for a “hold” rating, resulting in an average rating of “moderate buy” according to data from MarketBeat.com.
Dividend Announcement and Financial Overview
In addition to the trading activity, Intesa Sanpaolo declared a dividend of $0.9325 per share, which was paid on December 8, 2023. Shareholders of record as of December 2, 2023, received this dividend, which reflects a yield of 445.0%. The company’s dividend payout ratio (DPR) currently stands at 55.36%, indicating a balanced approach to shareholder returns.
About Intesa Sanpaolo
Intesa Sanpaolo is a prominent Italian banking group formed in 2007 through the merger of Banca Intesa and Sanpaolo IMI. It ranks among Italy’s largest financial institutions, catering to a diverse clientele, including individual retail customers, large corporations, and institutional investors. The group has a rich heritage, stemming from numerous regional banks and savings institutions that have been integrated into the consolidated entity.
The bank operates across various sectors, including retail banking—offering current accounts, deposits, mortgages, and consumer loans—as well as corporate and investment banking, private banking, wealth management, asset management, and insurance. Intesa Sanpaolo continues to play a vital role in the Italian financial landscape, demonstrating resilience and adaptability in evolving market conditions.