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 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.
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.
Check Out Our Latest Research Report on BKU
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.
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