BankUnited, Inc. Announces Quarterly Dividend of $0.33 (NYSE:BKU)

BankUnited, Inc. (NYSE:BKU) declared a quarterly dividend on Wednesday, June 24th. Investors of record on Friday, July 10th will be given a dividend of 0.33 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, July 10th.

BankUnited has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. BankUnited has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Analysts expect BankUnited to earn $4.71 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 28.0%.

BankUnited Trading Up 2.6%

BKU opened at $50.41 on Thursday. BankUnited has a 12 month low of $34.50 and a 12 month high of $52.11. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 14.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $46.98 and a 200 day moving average price of $46.59.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.14). The company had revenue of $273.69 million for the quarter, compared to analysts’ expectations of $284.57 million. BankUnited had a return on equity of 9.11% and a net margin of 14.46%.During the same quarter last year, the company earned $0.78 EPS. Sell-side analysts expect that BankUnited will post 4.16 earnings per share for the current fiscal year.

Insider Activity at BankUnited

In other news, Director John N. Digiacomo sold 1,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.97, for a total value of $45,970.00. Following the completion of the transaction, the director owned 15,027 shares in the company, valued at approximately $690,791.19. This represents a 6.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jay D. Richards sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the transaction, the insider owned 40,502 shares of the company’s stock, valued at approximately $1,971,232.34. The trade was a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On BankUnited

A number of institutional investors and hedge funds have recently bought and sold shares of BKU. Bank of America Corp DE boosted its stake in BankUnited by 9.0% in the first quarter. Bank of America Corp DE now owns 819,548 shares of the financial services provider’s stock valued at $37,011,000 after acquiring an additional 67,981 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of BankUnited during the first quarter worth about $6,797,000. Amundi lifted its holdings in shares of BankUnited by 31.4% in the 1st quarter. Amundi now owns 15,300 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 3,660 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of BankUnited by 30.9% in the 1st quarter. California State Teachers Retirement System now owns 92,927 shares of the financial services provider’s stock valued at $4,197,000 after purchasing an additional 21,956 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of BankUnited by 89.8% in the 1st quarter. Royal Bank of Canada now owns 7,701 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 3,643 shares during the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.