BankUnited, Inc. (NYSE:BKU) Declares Quarterly Dividend of $0.31

BankUnited, Inc. (NYSE:BKU) declared a quarterly dividend on Wednesday, March 26th, RTT News reports. Shareholders of record on Friday, April 11th will be given a dividend of 0.31 per share by the financial services provider on Wednesday, April 30th. This represents a $1.24 annualized dividend and a yield of 3.50%. This is a 6.9% increase from BankUnited’s previous quarterly dividend of $0.29.

BankUnited has raised its dividend payment by an average of 8.0% per year over the last three years. BankUnited has a dividend payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BankUnited to earn $3.41 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 34.0%.

BankUnited Stock Down 0.3 %

BankUnited stock opened at $35.44 on Thursday. The company has a market capitalization of $2.65 billion, a P/E ratio of 11.51 and a beta of 1.40. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.88 and a current ratio of 0.86. BankUnited has a fifty-two week low of $24.34 and a fifty-two week high of $44.45. The stock has a 50-day simple moving average of $37.88 and a 200-day simple moving average of $38.03.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.19. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same period in the previous year, the company earned $0.26 earnings per share. Equities research analysts expect that BankUnited will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on BKU shares. Barclays decreased their price target on shares of BankUnited from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Hovde Group decreased their target price on shares of BankUnited from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday. Piper Sandler raised BankUnited from a “neutral” rating to an “overweight” rating and set a $41.00 price target on the stock in a report on Tuesday, March 11th. Wells Fargo & Company upped their price objective on BankUnited from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Compass Point lifted their target price on BankUnited from $42.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.45.

Insider Transactions at BankUnited

In related news, Director Sanjiv Sobti purchased 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $32.07 per share, with a total value of $64,140.00. Following the purchase, the director now directly owns 20,782 shares in the company, valued at $666,478.74. This trade represents a 10.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin A. Malcolm sold 3,234 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $35.18, for a total transaction of $113,772.12. Following the completion of the sale, the insider now owns 12,250 shares of the company’s stock, valued at $430,955. This trade represents a 20.89 % decrease in their position. The disclosure for this sale can be found here. Company 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.