BankUnited, Inc. (BKU) to Issue Quarterly Dividend of $0.21 on October 31st
BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Tuesday, September 26th, Zacks reports. Shareholders of record on Monday, October 16th will be given a dividend of 0.21 per share by the financial services provider on Tuesday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, October 13th.
BankUnited has raised its dividend by an average of 10.1% annually over the last three years. BankUnited has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BankUnited to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 31.0%.
Shares of BankUnited (BKU) opened at 35.38 on Friday. The firm has a 50 day moving average price of $33.62 and a 200-day moving average price of $34.25. BankUnited has a 12-month low of $28.13 and a 12-month high of $41.00. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 15.83 and a beta of 1.10.
BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. BankUnited had a return on equity of 9.81% and a net margin of 19.54%. The firm had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. During the same quarter in the prior year, the business posted $0.52 EPS. On average, equities analysts expect that BankUnited will post $2.37 earnings per share for the current fiscal year.
In other BankUnited news, Chairman John Adam Kanas sold 100,400 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $33.05, for a total transaction of $3,318,220.00. Following the sale, the chairman now directly owns 742,866 shares of the company’s stock, valued at approximately $24,551,721.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $35.08, for a total value of $261,170.60. Following the sale, the insider now directly owns 29,000 shares in the company, valued at $1,017,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 386,035 shares of company stock worth $12,843,735. 5.10% of the stock is owned by insiders.
BKU has been the subject of several analyst reports. Bank of America Corporation reiterated a “buy” rating and set a $46.00 price objective on shares of BankUnited in a report on Monday, July 10th. ValuEngine upgraded BankUnited from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $41.00 price objective on shares of BankUnited in a report on Thursday, September 28th. BMO Capital Markets reiterated a “hold” rating and set a $40.00 price objective on shares of BankUnited in a report on Friday, July 7th. Finally, Wedbush reiterated a “neutral” rating and set a $35.00 price objective on shares of BankUnited in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $40.82.
BankUnited Company Profile
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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