BankUnited, Inc. (NYSE:BKU) to Issue $0.31 Quarterly Dividend

BankUnited, Inc. (NYSE:BKU - Get Free Report) announced a quarterly dividend on Thursday, June 26th, Wall Street Journal reports. Investors of record on Friday, July 11th will be paid 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 3.49%. The ex-dividend date is Friday, July 11th.

BankUnited has a payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities 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 2.6%

Shares of NYSE:BKU traded up $0.89 on Thursday, reaching $35.57. The company had a trading volume of 824,681 shares, compared to its average volume of 805,930. The stock has a market capitalization of $2.68 billion, a P/E ratio of 11.05 and a beta of 1.30. The stock has a 50-day moving average price of $34.07 and a 200 day moving average price of $36.03. BankUnited has a twelve month low of $27.58 and a twelve month high of $44.45. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.83.

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

Insiders Place Their Bets

In other BankUnited news, CFO Leslie Lunak sold 22,776 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $33.56, for a total transaction of $764,362.56. Following the completion of the transaction, the chief financial officer now owns 59,899 shares in the company, valued at $2,010,210.44. This trade represents a 27.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John N. Digiacomo sold 1,000 shares of BankUnited stock in a transaction that occurred 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 sale, the director now directly owns 14,516 shares in the company, valued at $499,785.88. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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 bought and sold shares of BKU. Strs Ohio bought a new stake in shares of BankUnited during the 1st quarter valued at $28,000. Royal Bank of Canada raised its stake in shares of BankUnited by 15.3% in the 1st quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock valued at $623,000 after purchasing an additional 2,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BankUnited by 4.6% in the 1st 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, Jane Street Group LLC bought a new position in BankUnited in the first quarter valued at $9,100,000. 99.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BKU. Barclays reduced their price objective on shares of BankUnited from $44.00 to $38.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on shares of BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lowered their price target on BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group began coverage on BankUnited in a research report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price objective for the company. Finally, Hovde Group lowered their target price on BankUnited from $46.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $40.42.

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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