BankUnited (NYSE:BKU) Announces Earnings Results

BankUnited (NYSE:BKU) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02, Briefing.com reports. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. The company had revenue of $508.35 million for the quarter, compared to analysts’ expectations of $239.84 million. During the same period last year, the firm earned $0.70 earnings per share.

BankUnited Stock Performance

Shares of BKU stock opened at $25.89 on Friday. The stock has a market capitalization of $1.94 billion, a PE ratio of 11.16 and a beta of 1.36. BankUnited has a 52-week low of $15.83 and a 52-week high of $34.22. The stock’s 50-day moving average price is $26.79 and its 200 day moving average price is $26.96. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 1.48.

BankUnited Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, April 11th. This is a boost from BankUnited’s previous quarterly dividend of $0.27. BankUnited’s payout ratio is 50.00%.

Analysts Set New Price Targets

BKU has been the topic of a number of analyst reports. Wedbush cut their price target on BankUnited from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Royal Bank of Canada cut their price target on BankUnited from $33.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. StockNews.com cut BankUnited from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods cut their target price on BankUnited from $33.00 to $31.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on BankUnited from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, BankUnited presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Insider Activity at BankUnited

In related news, insider Kevin A. Malcolm sold 2,285 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $27.18, for a total value of $62,106.30. Following the transaction, the insider now owns 11,750 shares in the company, valued at approximately $319,365. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BankUnited

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. increased its position in BankUnited by 83.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,918 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 1,327 shares during the period. US Bancorp DE boosted its holdings in BankUnited by 347.0% in the 1st quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 2,762 shares in the last quarter. Centiva Capital LP purchased a new stake in BankUnited in the 2nd quarter valued at approximately $200,000. Prelude Capital Management LLC purchased a new stake in BankUnited in the 2nd quarter valued at approximately $211,000. Finally, Captrust Financial Advisors boosted its holdings in BankUnited by 13.9% in the 3rd quarter. Captrust Financial Advisors now owns 6,355 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 775 shares in the last quarter. Institutional investors and hedge funds 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.