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.

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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.

Dividend History for BankUnited (NYSE:BKU)

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