BankUnited, Inc. (NYSE:BKU) Declares Quarterly Dividend of $0.29

by · The Cerbat Gem

BankUnited, Inc. (NYSE:BKU – Get Free Report) declared a quarterly dividend on Wednesday, September 25th, NASDAQ reports. Stockholders of record on Friday, October 11th will be paid a dividend of 0.29 per share by the financial services provider on Thursday, October 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Friday, October 11th.

BankUnited has increased its dividend payment by an average of 5.6% per year over the last three years. BankUnited has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect BankUnited to earn $3.24 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 35.8%.

BankUnited Stock Up 1.5 %

Shares of NYSE BKU opened at $35.42 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $36.18 and a 200 day moving average price of $31.70. BankUnited has a 52 week low of $21.02 and a 52 week high of $39.51. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.27 and a beta of 1.33.

BankUnited (NYSE:BKU – Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. The business had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. Equities research analysts anticipate that BankUnited will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling at BankUnited

In related news, Director William S. Rubenstein sold 7,864 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total value of $303,314.48. Following the completion of the sale, the director now directly owns 10,282 shares in the company, valued at approximately $396,576.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $36.50, for a total transaction of $127,750.00. Following the completion of the sale, the director now owns 43,654 shares of the company’s stock, valued at approximately $1,593,371. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William S. Rubenstein sold 7,864 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total value of $303,314.48. Following the sale, the director now owns 10,282 shares of the company’s stock, valued at $396,576.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,507 shares of company stock worth $802,400 in the last 90 days. 1.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BKU. Royal Bank of Canada upped their target price on BankUnited from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Tuesday, July 9th. Wedbush increased their price objective on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Barclays raised their target price on shares of BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. increased their price target on shares of BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Citigroup reduced their target price on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.80.

Read Our Latest Research Report on BankUnited

BankUnited Company Profile

(Get Free Report)

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.

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