BankUnited, Inc. (NYSE:BKU) Raises Dividend to $0.33 Per Share

BankUnited, Inc. (NYSE:BKU) announced a quarterly dividend on Thursday, March 26th. Stockholders of record on Friday, April 10th will be given a dividend of 0.33 per share by the financial services provider on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date 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%per year over the last three years and has raised its dividend every year for the last 4 years. BankUnited has a 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 Stock Down 0.9%

Shares of BankUnited stock opened at $44.93 on Friday. The firm’s 50 day moving average price is $47.14 and its 200-day moving average price is $43.38. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.51. BankUnited has a 52-week low of $28.21 and a 52-week high of $52.11. The company has a market cap of $3.31 billion, a P/E ratio of 12.69 and a beta of 1.29.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. BankUnited had a net margin of 14.14% and a return on equity of 9.09%. The company had revenue of $260.80 million during the quarter, compared to analysts’ expectations of $279.76 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, sell-side analysts predict that BankUnited will post 3.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kevin A. Malcolm sold 3,447 shares of BankUnited stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $47.11, for a total transaction of $162,388.17. Following the completion of the sale, the insider owned 11,500 shares of the company’s stock, valued at $541,765. The trade was a 23.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay D. Richards sold 3,506 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $49.83, for a total value of $174,703.98. Following the completion of the sale, the insider owned 35,687 shares in the company, valued at approximately $1,778,283.21. This represents a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 11,953 shares of company stock valued at $591,492. 1.15% of the stock is owned by company insiders.

Institutional Trading of BankUnited

Institutional investors and hedge funds have recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. acquired a new stake in shares of BankUnited in the fourth quarter worth $30,000. Kestra Advisory Services LLC acquired a new position in BankUnited during the fourth quarter valued at $35,000. Strs Ohio acquired a new position in BankUnited during the first quarter valued at $28,000. Salomon & Ludwin LLC purchased a new stake in BankUnited in the third quarter valued at $34,000. Finally, Quarry LP grew its position in BankUnited by 158.2% during the 3rd quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 576 shares during the period. 99.70% of the stock is currently owned by institutional investors and hedge funds.

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.