BankUnited (NYSE:BKU) announced 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 2.00%. 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. Research analysts expect BankUnited to earn $3.17 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 26.5%.
BankUnited (NYSE BKU) traded up $0.91 during midday trading on Thursday, hitting $41.95. 1,261,203 shares of the stock were exchanged, compared to its average volume of 1,035,796. BankUnited has a 52 week low of $30.37 and a 52 week high of $43.84. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $4,389.32, a P/E ratio of 7.52, a P/E/G ratio of 1.47 and a beta of 1.09.
BankUnited (NYSE:BKU) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. The company had revenue of $285.37 million during the quarter, compared to the consensus estimate of $270.33 million. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. During the same period in the previous year, the firm posted $0.59 EPS. sell-side analysts predict that BankUnited will post 3.16 earnings per share for the current fiscal year.
Several analysts have weighed in on the stock. Barclays reissued a “buy” rating and issued a $42.00 price target on shares of BankUnited in a research note on Tuesday, December 5th. ValuEngine raised shares of BankUnited from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Zacks Investment Research raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Friday, January 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $42.00 price target on shares of BankUnited in a research note on Thursday, December 14th. Finally, JPMorgan Chase & Co. downgraded shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price target for the company. in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. BankUnited currently has a consensus rating of “Buy” and an average target price of $43.09.
In other BankUnited news, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total value of $35,880.00. Following the transaction, the insider now owns 19,699 shares in the company, valued at $706,800.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas J. Pauls sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the completion of the transaction, the director now owns 31,380 shares in the company, valued at approximately $1,321,725.60. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
BankUnited announced that its board has authorized a stock repurchase program on Tuesday, January 23rd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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.
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