BankUnited (NYSE:BKU) Plans Quarterly Dividend of $0.21

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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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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