BankUnited, Inc. (NYSE:BKU) Announces $0.33 Quarterly Dividend

BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Wednesday, June 24th. Stockholders of record on Friday, July 10th will be given a dividend of 0.33 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, July 10th.

BankUnited has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. BankUnited has a payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BankUnited to earn $4.71 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 28.0%.

BankUnited Trading Up 2.6%

BKU opened at $50.41 on Thursday. The stock has a market capitalization of $3.66 billion, a PE ratio of 14.04 and a beta of 1.17. BankUnited has a one year low of $34.50 and a one year high of $52.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50 day moving average price is $46.98 and its 200 day moving average price is $46.59.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.14). BankUnited had a return on equity of 9.11% and a net margin of 14.46%.The business had revenue of $273.69 million for the quarter, compared to analyst estimates of $284.57 million. During the same period last year, the business earned $0.78 EPS. As a group, equities research analysts expect that BankUnited will post 4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BKU shares. Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Wells Fargo & Company boosted their price objective on shares of BankUnited from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Hovde Group decreased their target price on shares of BankUnited from $57.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings raised shares of BankUnited from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of BankUnited from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BankUnited presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.27.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.