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

BankUnited, Inc. (NYSE:BKU - Get Free Report) declared a quarterly dividend on Thursday, June 26th, Wall Street Journal reports. Investors of record on Friday, July 11th will be given a dividend of 0.31 per share by the financial services provider on Thursday, July 31st. This represents a $1.24 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, July 11th.

BankUnited has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.5%

BKU stock traded up $0.19 during mid-day trading on Friday, reaching $35.70. The company had a trading volume of 1,342,507 shares, compared to its average volume of 809,907. The firm has a fifty day simple moving average of $34.24 and a 200 day simple moving average of $35.88. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.09 and a beta of 1.30. BankUnited has a fifty-two week low of $28.21 and a fifty-two week high of $44.45.

BankUnited (NYSE:BKU - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. The firm had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. BankUnited had a net margin of 12.26% and a return on equity of 8.66%. During the same period in the prior year, the firm earned $0.64 earnings per share. Analysts forecast that BankUnited will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BKU shares. Hovde Group decreased their price objective on shares of BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company cut their price target on BankUnited from $50.00 to $42.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada lowered their price objective on BankUnited from $42.00 to $40.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Piper Sandler upgraded BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price objective on the stock in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group decreased their target price on BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $40.42.

Insiders Place Their Bets

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the transaction, the director now directly owns 14,516 shares of the company's stock, valued at approximately $499,785.88. The trade was a 6.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total transaction of $764,362.56. Following the completion of the sale, the chief financial officer now owns 59,899 shares of the company's stock, valued at $2,010,210.44. This trade represents a 27.55% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

Institutional Trading of BankUnited

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new stake in BankUnited in the 1st quarter valued at approximately $28,000. Jane Street Group LLC acquired a new position in shares of BankUnited in the first quarter worth $9,100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of BankUnited by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider's stock valued at $1,528,000 after acquiring an additional 1,934 shares in the last quarter. Finally, Royal Bank of Canada increased its position in BankUnited by 15.3% during the 1st quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock worth $623,000 after purchasing an additional 2,394 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company's stock.

About BankUnited

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.