BankUnited (NYSE:BKU) Announces Earnings Results

BankUnited (NYSE:BKU) issued its quarterly earnings data on Monday. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04, Zacks reports. 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 11.48% and a return on equity of 8.48%. During the same period in the prior year, the business posted $0.64 EPS.

BankUnited Trading Down 2.2 %

NYSE BKU opened at $32.90 on Tuesday. The company has a market capitalization of $2.48 billion, a PE ratio of 10.68 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. BankUnited has a 1-year low of $26.70 and a 1-year high of $44.45. The firm’s fifty day simple moving average is $33.54 and its 200-day simple moving average is $37.32.

BankUnited Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.77%. This is a positive change from BankUnited’s previous quarterly dividend of $0.29. BankUnited’s dividend payout ratio is presently 40.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BKU shares. StockNews.com downgraded shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Hovde Group reduced their target price on shares of BankUnited from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Royal Bank of Canada raised their target price on shares of BankUnited from $42.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on BankUnited from $50.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays decreased their price target on BankUnited from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.18.

Insider Buying and Selling

In other news, insider Kevin A. Malcolm sold 3,234 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $35.18, for a total transaction of $113,772.12. Following the completion of the sale, the insider now owns 12,250 shares of the company’s stock, valued at approximately $430,955. This trade represents a 20.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sanjiv Sobti bought 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $32.83 per share, with a total value of $32,830.00. Following the completion of the purchase, the director now owns 21,782 shares of the company’s stock, valued at $715,103.06. This represents a 4.81 % increase in their position. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by corporate insiders.

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.