BankUnited (BKU) to Issue Quarterly Dividend of $0.21 on January 31st

BankUnited (NYSE:BKU) declared a quarterly dividend on Thursday, December 28th, Wall Street Journal reports. Stockholders of record on Friday, January 12th will be given a dividend of 0.21 per share by the financial services provider on Wednesday, January 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, January 11th.

BankUnited has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BankUnited to earn $2.67 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 31.5%.

BankUnited (BKU) opened at $40.66 on Friday. BankUnited has a 52-week low of $30.37 and a 52-week high of $41.64. The company has a market cap of $4,348.66, a P/E ratio of 17.10, a PEG ratio of 1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.96 and a quick ratio of 0.96.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. The company had revenue of $294.59 million for the quarter, compared to analyst estimates of $273.51 million. During the same quarter last year, the firm posted $0.47 earnings per share. sell-side analysts forecast that BankUnited will post 2.39 EPS for the current year.

A number of equities analysts have recently commented on BKU shares. Deutsche Bank dropped their price target on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. Barclays lifted their price target on shares of BankUnited from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $46.00 price target on shares of BankUnited in a research report on Wednesday, December 13th. BMO Capital Markets raised shares of BankUnited from a “market perform” rating to an “outperform” rating in a research report on Monday, November 20th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $41.00 price target on shares of BankUnited in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.56.

In related news, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the transaction, the insider now owns 19,699 shares of the company’s stock, valued at $706,800.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

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About BankUnited

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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