BankUnited, Inc. (NYSE:BKU – Get Free Report) announced a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Stockholders 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 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, July 12th.
BankUnited has raised 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. Equities research 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 Trading Up 2.2 %
BankUnited stock traded up $0.61 during trading hours on Thursday, reaching $28.55. 442,843 shares of the company’s stock were exchanged, compared to its average volume of 811,622. The firm’s 50 day simple moving average is $28.26 and its 200 day simple moving average is $28.36. BankUnited has a twelve month low of $20.84 and a twelve month high of $34.22. 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 firm has a market capitalization of $2.13 billion, a PE ratio of 12.31 and a beta of 1.33.
Insider Activity at BankUnited
In related news, Director John N. Digiacomo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total value of $43,920.00. Following the sale, 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 the SEC website. 1.19% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
BKU has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of BankUnited from $33.00 to $34.50 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods decreased their price objective on BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada dropped their target price on BankUnited from $33.00 to $29.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Finally, Barclays upped their price target on BankUnited from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.75.
View Our Latest Research Report on BankUnited
BankUnited Company Profile
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.
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