BankUnited, Inc. (NYSE:BKU) Raises Dividend to $0.31 Per Share

BankUnited, Inc. (NYSE:BKU - Get Free Report) announced a quarterly dividend on Wednesday, March 26th, RTT News reports. Stockholders of record on Friday, April 11th will be paid a dividend of 0.31 per share by the financial services provider on Wednesday, April 30th. This represents a $1.24 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, April 11th. This is a 6.9% increase from BankUnited's previous quarterly dividend of $0.29.

BankUnited has increased its dividend by an average of 8.0% per year over the last three years. BankUnited has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Analysts expect BankUnited to earn $3.41 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 36.4%.

BankUnited Stock Performance

Shares of NYSE BKU traded down $1.05 during trading hours on Friday, reaching $34.15. The stock had a trading volume of 456,613 shares, compared to its average volume of 761,802. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 11.09 and a beta of 1.40. BankUnited has a twelve month low of $24.34 and a twelve month high of $44.45. The business's fifty day moving average is $37.69 and its two-hundred day moving average is $38.01. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.86 and a quick ratio of 0.88.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same period in the previous year, the business posted $0.26 earnings per share. As a group, research analysts expect that BankUnited will post 3.13 EPS for the current year.

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Wall Street Analyst Weigh In

BKU has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on BankUnited from $38.00 to $45.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Compass Point boosted their price target on BankUnited from $42.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on BankUnited from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Hovde Group cut their price objective on BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Finally, Barclays dropped their target price on shares of BankUnited from $45.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $43.45.

Insider Buying and Selling at BankUnited

In other news, Director Sanjiv Sobti purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $32.83 per share, for a total transaction of $32,830.00. Following the completion of the acquisition, the director now directly owns 21,782 shares in the company, valued at approximately $715,103.06. The trade was a 4.81 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin A. Malcolm sold 3,234 shares of BankUnited stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $35.18, for a total value of $113,772.12. Following the completion of the sale, the insider now owns 12,250 shares of the company's stock, valued at approximately $430,955. The trade was a 20.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company's stock.

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.