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

BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.29 per share by the financial services provider on Wednesday, July 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, July 12th.

BankUnited has raised its dividend by an average of 5.6% annually over the last three years. BankUnited has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BankUnited to earn $3.06 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 37.9%.

BankUnited Trading Up 2.2 %

BankUnited stock traded up $0.61 during trading hours on Thursday, reaching $28.55. 442,843 shares of the company’s stock were exchanged, compared to its average volume of 811,622. The firm’s 50 day simple moving average is $28.26 and its 200 day simple moving average is $28.36. BankUnited has a twelve month low of $20.84 and a twelve month high of $34.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $2.13 billion, a PE ratio of 12.31 and a beta of 1.33.

BankUnited (NYSE:BKU) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $508.35 million during the quarter, compared to analysts’ expectations of $239.84 million. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. During the same quarter last year, the firm posted $0.70 earnings per share. Research analysts predict that BankUnited will post 2.81 earnings per share for the current year.

Insider Activity at BankUnited

In related news, Director John N. Digiacomo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total value of $43,920.00. Following the sale, the director now directly owns 13,482 shares of the company’s stock, valued at $394,752.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BKU has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of BankUnited from $33.00 to $34.50 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods decreased their price objective on BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada dropped their target price on BankUnited from $33.00 to $29.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Finally, Barclays upped their price target on BankUnited from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.75.

BankUnited Company Profile

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.