BankUnited (NYSE:BKU) announced a quarterly dividend on Monday, December 24th, Wall Street Journal reports. Stockholders of record on Monday, January 14th will be paid a dividend of 0.21 per share by the financial services provider on Thursday, January 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, January 11th.
BankUnited has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect BankUnited to earn $2.92 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 28.8%.
NYSE:BKU opened at $32.98 on Thursday. The company has a market cap of $3.27 billion, a P/E ratio of 12.45, a PEG ratio of 1.23 and a beta of 1.04. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.61. BankUnited has a 52-week low of $28.05 and a 52-week high of $44.97.
A number of research analysts recently issued reports on BKU shares. BMO Capital Markets dropped their price target on BankUnited from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. Zacks Investment Research downgraded BankUnited from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Barclays dropped their price target on BankUnited from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 3rd. Morgan Stanley downgraded BankUnited from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $46.00 to $42.00 in a research note on Tuesday, September 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $39.00 price target on shares of BankUnited in a research note on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. BankUnited has an average rating of “Hold” and a consensus price target of $41.70.
In other BankUnited news, insider Mark Bagnoli sold 1,000 shares of BankUnited stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $31.82, for a total value of $31,820.00. Following the transaction, the insider now directly owns 24,118 shares in the company, valued at approximately $767,434.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.
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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.
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