BankUnited (NYSE:BKU) Posts Earnings Results, Beats Estimates By $0.07 EPS

BankUnited (NYSE:BKU) released its earnings results on Tuesday. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07, Briefing.com reports. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The firm had revenue of $515.24 million during the quarter, compared to analysts’ expectations of $258.65 million. During the same quarter last year, the business posted $0.63 earnings per share.

BankUnited Trading Down 0.5 %

BKU stock traded down $0.16 during mid-day trading on Wednesday, reaching $34.86. 111,538 shares of the stock traded hands, compared to its average volume of 810,220. BankUnited has a one year low of $21.02 and a one year high of $39.51. The stock has a market capitalization of $2.61 billion, a PE ratio of 15.05 and a beta of 1.33. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50-day moving average price of $36.48 and a two-hundred day moving average price of $32.32.

BankUnited Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, October 11th. BankUnited’s payout ratio is 50.00%.

Insider Buying and Selling

In other BankUnited news, Director William S. Rubenstein sold 7,864 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total value of $303,314.48. Following the completion of the sale, the director now owns 10,282 shares of the company’s stock, valued at $396,576.74. This trade represents a 0.00 % 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 hyperlink. 1.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BKU has been the topic of several recent analyst reports. Hovde Group lifted their price objective on shares of BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Citigroup cut their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Barclays boosted their target price on BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. raised their price target on BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their price objective on BankUnited from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, BankUnited presently has an average rating of “Hold” and an average price target of $35.80.

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.