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

BankUnited, Inc. (NYSE:BKU) 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 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Friday, October 11th.

BankUnited has raised its dividend by an average of 5.6% annually over the last three years. BankUnited has a dividend payout ratio of 34.8% 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 Stock Up 1.2 %

NYSE:BKU traded up $0.43 during midday trading on Thursday, reaching $35.71. 611,030 shares of the stock traded hands, compared to its average volume of 807,754. BankUnited has a 12-month low of $20.84 and a 12-month high of $39.51. The business has a 50-day moving average of $36.65 and a two-hundred day moving average of $31.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $2.67 billion, a PE ratio of 15.39 and a beta of 1.33.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities analysts forecast that BankUnited will post 2.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BKU has been the subject of a number of research analyst reports. Hovde Group raised their price target on shares of BankUnited from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Barclays increased their price objective on shares of BankUnited from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Wedbush increased their price objective on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price objective on shares of BankUnited from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.10.

Insider Transactions at BankUnited

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

About BankUnited

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.