BankUnited, Inc. (NYSE:BKU) Plans Quarterly Dividend of $0.31

Key Points

• BankUnited, Inc. has announced a quarterly dividend of $0.31 per share, with an upcoming payment date set for October 31st for stockholders on record as of October 10th.
• The company has a payout ratio of 35.2%, indicating that its dividend is well-supported by earnings, with analysts expecting a future payout ratio of 36.4% for an annual dividend of $1.24.
• Recent insider transactions include Jay D. Richards and Douglas J. Pauls selling shares, which reflects changes in ownership percentages among company insiders.

BankUnited, Inc. (NYSE:BKU - Get Free Report) announced a quarterly dividend on Wednesday, September 24th. Stockholders of record on Friday, October 10th will be paid a dividend of 0.31 per share by the financial services provider on Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 10th.

BankUnited has a payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities 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 0.1%

NYSE BKU opened at $38.33 on Thursday. The stock has a market cap of $2.88 billion, a PE ratio of 11.24 and a beta of 1.29. BankUnited has a 12 month low of $28.21 and a 12 month high of $44.45. The company's 50-day moving average price is $37.98 and its 200-day moving average price is $35.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.

BankUnited (NYSE:BKU - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. The business had revenue of $273.93 million for the quarter, compared to the consensus estimate of $267.17 million. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. During the same period in the prior year, the firm earned $0.72 EPS. Equities research analysts forecast that BankUnited will post 3.13 earnings per share for the current year.

Insider Activity at BankUnited

In other news, insider Jay D. Richards sold 3,942 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.81, for a total transaction of $152,989.02. Following the transaction, the insider directly owned 39,193 shares of the company's stock, valued at approximately $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the completion of the sale, the director directly owned 43,205 shares of the company's stock, valued at $1,675,921.95. The trade was a 7.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On BankUnited

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKU. Public Sector Pension Investment Board boosted its holdings in BankUnited by 6.9% in the second quarter. Public Sector Pension Investment Board now owns 299,618 shares of the financial services provider's stock worth $10,663,000 after acquiring an additional 19,320 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of BankUnited by 0.7% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 77,271 shares of the financial services provider's stock valued at $2,752,000 after purchasing an additional 544 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in BankUnited by 324.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,537 shares of the financial services provider's stock worth $482,000 after purchasing an additional 10,344 shares in the last quarter. Rafferty Asset Management LLC grew its position in BankUnited by 18.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 136,602 shares of the financial services provider's stock worth $4,862,000 after purchasing an additional 21,220 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in BankUnited by 17.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,529 shares of the financial services provider's stock valued at $410,000 after purchasing an additional 1,692 shares in the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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