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

BankUnited (NYSE:BKU) announced its earnings results on Tuesday. The financial services provider reported $0.81 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 for the quarter, compared to analysts’ expectations of $258.65 million. During the same quarter in the previous year, the company earned $0.63 earnings per share.

BankUnited Stock Down 0.3 %

Shares of BKU opened at $34.91 on Thursday. BankUnited has a 52 week low of $21.02 and a 52 week high of $39.51. The firm has a market capitalization of $2.61 billion, a P/E ratio of 15.05 and a beta of 1.33. The company has a 50-day simple moving average of $36.47 and a 200-day simple moving average of $32.34. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.32%. BankUnited’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

BKU has been the subject of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.00 target price on shares of BankUnited in a research note on Wednesday. Citigroup dropped their target price on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Wedbush lifted their price target on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Hovde Group increased their price objective on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, BankUnited currently has a consensus rating of “Hold” and a consensus price target of $36.40.

Insider Buying and Selling at BankUnited

In related news, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total transaction of $303,314.48. Following the sale, the director now directly owns 10,282 shares in the company, valued at $396,576.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.19% 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.