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

by · The Markets Daily

BankUnited, Inc. (NYSE:BKU – Get Free Report) announced a quarterly dividend on Wednesday, September 25th, NASDAQ reports. Investors of record on Friday, October 11th will be given a dividend of 0.29 per share by the financial services provider on Thursday, October 31st. This represents a $1.16 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, October 11th.

BankUnited has raised its dividend payment by an average of 5.6% annually over the last three years. BankUnited has a dividend payout ratio of 35.5% meaning 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 Price Performance

BKU opened at $34.88 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.22. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 15.03 and a beta of 1.33. The stock has a fifty day simple moving average of $36.25 and a two-hundred day simple moving average of $31.68. BankUnited has a 12-month low of $21.02 and a 12-month high of $39.51.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BKU shares. Hovde Group lifted their target price on shares of BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Wedbush boosted their target price on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Citigroup cut 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. Wells Fargo & Company lifted their price target on BankUnited from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Finally, Barclays increased their price objective on shares of BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, BankUnited presently has an average rating of “Hold” and a consensus price target of $35.80.

View Our Latest Analysis on BankUnited

Insider Buying and Selling

In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total transaction of $371,335.23. Following the transaction, the insider now owns 37,187 shares in the company, valued at approximately $1,361,416.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.50, for a total value of $127,750.00. Following the completion of the sale, the director now owns 43,654 shares of the company’s stock, valued at $1,593,371. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jay D. Richards sold 10,143 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total value of $371,335.23. Following the completion of the transaction, the insider now directly owns 37,187 shares in the company, valued at approximately $1,361,416.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,507 shares of company stock worth $802,400. 1.19% of the stock is owned by corporate insiders.

About BankUnited

(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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