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

BankUnited (NYSE:BKU) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07, Briefing.com reports. The business had revenue of $515.24 million during the quarter, compared to the consensus estimate of $258.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. During the same period in the previous year, the business earned $0.63 earnings per share.

BankUnited Trading Down 0.4 %

Shares of BKU traded down $0.14 during trading hours on Wednesday, hitting $34.88. 105,484 shares of the stock were exchanged, compared to its average volume of 810,191. BankUnited has a fifty-two week low of $21.02 and a fifty-two week high of $39.51. The business has a 50-day moving average of $36.48 and a 200-day moving average of $32.32. 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 debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.87.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a $0.29 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.33%. BankUnited’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BKU. Wedbush boosted their price target on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised their price target on shares of BankUnited from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 9th. Barclays upped their price objective on shares of BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on shares of BankUnited from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.80.

Insider Buying and Selling at BankUnited

In related news, Director William S. Rubenstein sold 7,864 shares of the company’s stock in a transaction dated 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 owns 10,282 shares in the company, valued at $396,576.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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.