BankUnited (NYSE:BKU) announced a quarterly dividend on Thursday, December 19th, Zacks reports. Stockholders of record on Tuesday, January 14th will be given a dividend of 0.21 per share by the financial services provider on Friday, January 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, January 13th.
BankUnited has a payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BankUnited to earn $3.02 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 27.8%.
BankUnited stock opened at $35.25 on Friday. BankUnited has a 52-week low of $30.32 and a 52-week high of $37.60. The firm has a fifty day moving average of $35.93 and a 200-day moving average of $33.88. The firm has a market capitalization of $3.40 billion, a P/E ratio of 14.94, a PEG ratio of 1.34 and a beta of 1.15. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.
Several equities research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of BankUnited in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $39.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of BankUnited from an “underweight” rating to a “neutral” rating and upped their target price for the company from $34.00 to $37.00 in a research note on Thursday, October 24th. Royal Bank of Canada began coverage on shares of BankUnited in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $41.00 target price for the company. Zacks Investment Research downgraded shares of BankUnited from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research note on Friday, October 11th. Finally, Morgan Stanley upped their target price on shares of BankUnited from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.71.
In other BankUnited news, CEO Rajinder P. Singh sold 76,466 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $36.35, for a total transaction of $2,779,539.10. Following the transaction, the chief executive officer now directly owns 355,749 shares in the company, valued at approximately $12,931,476.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 20,731 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $35.16, for a total transaction of $728,901.96. Following the transaction, the director now owns 55,179 shares in the company, valued at $1,940,093.64. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
BankUnited Company Profile
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, savings accounts, and certificates of deposit; and treasury management services.
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