BankUnited, Inc. (BKU) to Issue Quarterly Dividend of $0.29 on January 31st

BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Thursday, December 26th,RTT News reports. Shareholders of record on Friday, January 10th will be given a dividend of 0.29 per share by the financial services provider on Friday, January 31st. This represents a $1.16 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, January 10th.

BankUnited has raised its dividend payment by an average of 5.6% annually over the last three years. BankUnited has a dividend payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BankUnited to earn $3.00 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 38.7%.

BankUnited Trading Down 1.0 %

BankUnited stock opened at $38.41 on Friday. The stock has a 50-day moving average price of $39.22 and a 200 day moving average price of $36.03. BankUnited has a 52 week low of $24.34 and a 52 week high of $44.45. The stock has a market cap of $2.87 billion, a PE ratio of 15.74 and a beta of 1.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. The business had revenue of $515.24 million during the quarter, compared to the consensus estimate of $258.65 million. During the same period in the previous year, the firm posted $0.63 earnings per share. Equities research analysts predict that BankUnited will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BKU shares. Citigroup decreased their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Compass Point lifted their price target on BankUnited from $42.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their price objective on BankUnited from $38.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $37.00 price target on shares of BankUnited in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price objective on BankUnited from $36.00 to $42.00 and gave the stock a “sell” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, BankUnited has an average rating of “Hold” and a consensus price target of $41.36.

Insider Transactions at BankUnited

In related news, COO Thomas M. Cornish sold 10,778 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $39.11, for a total value of $421,527.58. Following the transaction, the chief operating officer now owns 100,000 shares in the company, valued at $3,911,000. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay D. Richards sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total transaction of $102,950.00. Following the sale, the insider now owns 34,687 shares of the company’s stock, valued at $1,428,410.66. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by insiders.

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.