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

BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Thursday, March 26th. Investors of record on Friday, April 10th will be paid a dividend of 0.33 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, April 10th. This is a 6.5% increase from BankUnited’s previous quarterly dividend of $0.31.

BankUnited has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. BankUnited has a dividend payout ratio of 35.2% indicating that 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 Trading Down 0.9%

NYSE:BKU opened at $44.93 on Friday. The company has a market cap of $3.31 billion, a PE ratio of 12.69 and a beta of 1.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $47.14 and a two-hundred day simple moving average of $43.38. BankUnited has a 12 month low of $28.21 and a 12 month high of $52.11.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.The firm had revenue of $260.80 million for the quarter, compared to the consensus estimate of $279.76 million. During the same period last year, the business posted $0.91 EPS. Research analysts forecast that BankUnited will post 3.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jay D. Richards sold 3,506 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $49.83, for a total transaction of $174,703.98. Following the completion of the transaction, the insider directly owned 35,687 shares in the company, valued at approximately $1,778,283.21. The trade was a 8.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sanjiv Sobti sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $50.88, for a total transaction of $254,400.00. Following the sale, the director owned 18,816 shares in the company, valued at approximately $957,358.08. The trade was a 20.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,953 shares of company stock worth $591,492 over the last quarter. 1.15% of the stock is currently owned by corporate insiders.

Institutional Trading of BankUnited

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of BankUnited during the 1st quarter valued at $28,000. Eurizon Capital SGR S.p.A. bought a new position in BankUnited in the 4th quarter worth $30,000. Salomon & Ludwin LLC purchased a new stake in BankUnited in the 3rd quarter worth $34,000. Kestra Advisory Services LLC purchased a new stake in BankUnited in the 4th quarter worth $35,000. Finally, Quarry LP raised its holdings in BankUnited by 158.2% during the third quarter. Quarry LP now owns 940 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 576 shares during the period. 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.