BankUnited, Inc. (NYSE:BKU – Get Rating) announced a quarterly dividend on Monday, September 26th, Zacks reports. Investors of record on Friday, October 14th will be given a dividend of 0.25 per share by the financial services provider on Monday, October 31st. This represents a $1.00 annualized dividend and a yield of 2.92%. The ex-dividend date is Thursday, October 13th.
BankUnited has increased its dividend payment by an average of 3.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. BankUnited has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BankUnited to earn $4.16 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 24.0%.
Get BankUnited alerts:BankUnited Stock Performance
BKU traded up $0.07 on Wednesday, hitting $34.20. The company had a trading volume of 6,773 shares, compared to its average volume of 659,729. The company's fifty day moving average price is $38.05 and its 200 day moving average price is $39.09. BankUnited has a 1-year low of $33.90 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 8.62 and a beta of 1.25.
BankUnited (NYSE:BKU – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.08). The business had revenue of $238.87 million during the quarter, compared to the consensus estimate of $245.42 million. BankUnited had a return on equity of 12.00% and a net margin of 32.13%. During the same period in the prior year, the firm earned $1.11 earnings per share. Equities analysts predict that BankUnited will post 3.7 earnings per share for the current fiscal year.Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on BKU. Keefe, Bruyette & Woods cut BankUnited from an "outperform" rating to a "market perform" rating and set a $51.00 price objective on the stock. in a research report on Thursday, June 2nd. Piper Sandler upped their price target on BankUnited to $40.00 in a research report on Friday, July 22nd. JPMorgan Chase & Co. lowered their price target on BankUnited from $43.00 to $38.00 and set an "underweight" rating on the stock in a research report on Friday, July 1st. StockNews.com upgraded BankUnited from a "sell" rating to a "hold" rating in a report on Friday, July 29th. Finally, Wells Fargo & Company upped their price objective on BankUnited to $45.00 in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $45.00.
Institutional Investors Weigh In On BankUnited
Several large investors have recently modified their holdings of the business. Prelude Capital Management LLC bought a new position in shares of BankUnited during the second quarter worth about $211,000. Centiva Capital LP bought a new position in shares of BankUnited during the second quarter worth about $200,000. Captrust Financial Advisors grew its holdings in shares of BankUnited by 30.3% during the second quarter. Captrust Financial Advisors now owns 7,564 shares of the financial services provider's stock worth $269,000 after buying an additional 1,757 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of BankUnited by 354.4% during the second quarter. Jane Street Group LLC now owns 111,125 shares of the financial services provider's stock worth $3,953,000 after buying an additional 86,670 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in BankUnited during the second quarter valued at approximately $865,000. 93.77% of the stock is currently owned by institutional investors.
BankUnited Company Profile
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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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