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

BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.29 per share by the financial services provider on Wednesday, July 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, July 12th.

BankUnited has increased its dividend by an average of 5.6% annually over the last three years. BankUnited has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Analysts expect BankUnited to earn $3.06 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 37.9%.

BankUnited Stock Performance

NYSE BKU opened at $28.55 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $2.13 billion, a P/E ratio of 12.31 and a beta of 1.33. BankUnited has a 12-month low of $20.84 and a 12-month high of $34.22. The firm has a 50-day moving average price of $28.26 and a two-hundred day moving average price of $28.36.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $508.35 million during the quarter, compared to the consensus estimate of $239.84 million. BankUnited had a net margin of 8.71% and a return on equity of 8.06%. During the same quarter in the previous year, the firm posted $0.70 EPS. Analysts anticipate that BankUnited will post 2.81 earnings per share for the current year.

Insider Buying and Selling at BankUnited

In other BankUnited news, Director John N. Digiacomo sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $29.28, for a total value of $43,920.00. Following the transaction, the director now directly owns 13,482 shares of the company’s stock, valued at $394,752.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BKU shares. Keefe, Bruyette & Woods dropped their target price on shares of BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada dropped their target price on shares of BankUnited from $33.00 to $29.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. StockNews.com upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of BankUnited from $33.00 to $34.50 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of BankUnited from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.75.

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.