BankUnited Announces Quarterly Dividend of $0.21 (BKU)
BankUnited (NYSE:BKU) announced a quarterly dividend on Tuesday, September 25th, Wall Street Journal reports. Investors of record on Tuesday, October 16th will be paid a dividend of 0.21 per share by the financial services provider on Wednesday, October 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, October 15th.
BankUnited has a dividend payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect BankUnited to earn $3.24 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 25.9%.
Shares of NYSE BKU traded down $0.20 during midday trading on Tuesday, hitting $36.40. The company had a trading volume of 519,827 shares, compared to its average volume of 906,054. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.64. BankUnited has a twelve month low of $32.34 and a twelve month high of $44.97. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.26 and a beta of 0.96.
Several analysts recently commented on BKU shares. Morgan Stanley reduced their price objective on shares of BankUnited from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, July 31st. Sandler O’Neill set a $47.00 target price on shares of BankUnited and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, ValuEngine cut shares of BankUnited from a “hold” rating to a “sell” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.70.
In other BankUnited news, COO Thomas M. Cornish sold 10,000 shares of BankUnited stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $40.02, for a total transaction of $400,200.00. Following the completion of the transaction, the chief operating officer now owns 90,249 shares in the company, valued at $3,611,764.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.
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, and savings accounts, as well as certificates of deposit; and treasury management services.
Featured Article: How is an ETF different from a mutual fund?
Receive News & Ratings for BankUnited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BankUnited and related companies with MarketBeat.com's FREE daily email newsletter.