BankUnited (NYSE:BKU) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

BankUnited Stock Performance

Shares of NYSE BKU opened at $25.89 on Friday. The company has a market cap of $1.94 billion, a PE ratio of 11.16 and a beta of 1.36. BankUnited has a 12 month low of $15.83 and a 12 month high of $34.22. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.88 and a quick ratio of 0.92. The company has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $26.96.

BankUnited Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, April 11th. This is an increase from BankUnited’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.48%. BankUnited’s payout ratio is 50.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BKU. Wedbush cut their price target on shares of BankUnited from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Barclays began coverage on shares of BankUnited in a report on Friday, March 8th. They issued an “equal weight” rating and a $29.00 price target for the company. Royal Bank of Canada cut their price target on shares of BankUnited from $33.00 to $29.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. StockNews.com downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Citigroup dropped their target price on shares of BankUnited from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.50.

Insider Buying and Selling

In related news, insider Kevin A. Malcolm sold 2,285 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $27.18, for a total value of $62,106.30. Following the sale, the insider now directly owns 11,750 shares of the company’s stock, valued at $319,365. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Several hedge funds have recently modified their holdings of BKU. Advisor Group Holdings Inc. lifted its position in BankUnited by 83.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,918 shares of the financial services provider’s stock valued at $99,000 after buying an additional 1,327 shares in the last quarter. US Bancorp DE lifted its position in BankUnited by 347.0% during the first quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock valued at $157,000 after buying an additional 2,762 shares in the last quarter. Centiva Capital LP acquired a new position in BankUnited during the second quarter valued at approximately $200,000. Prelude Capital Management LLC acquired a new position in BankUnited during the second quarter valued at approximately $211,000. Finally, Captrust Financial Advisors raised its stake in shares of BankUnited by 13.9% during the third 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 during the period. 99.70% of the stock is owned by institutional investors and hedge funds.

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.