BankUnited (NYSE:BKU) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

BankUnited Stock Performance

Shares of NYSE BKU opened at $26.73 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.52 and a beta of 1.36. The stock’s fifty day simple moving average is $26.79 and its 200 day simple moving average is $26.99. BankUnited has a 52-week low of $15.83 and a 52-week high of $34.22.

BankUnited Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from BankUnited’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, April 11th. BankUnited’s payout ratio is presently 50.00%.

Insider Buying and Selling

In related news, insider Kevin A. Malcolm sold 2,285 shares of BankUnited stock in a transaction on 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 directly 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. Insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On BankUnited

A number of hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its holdings in shares of 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 grew its holdings in shares of 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 purchased a new position in shares of BankUnited during the second quarter valued at $200,000. Prelude Capital Management LLC purchased a new position in BankUnited in the second quarter valued at about $211,000. Finally, Captrust Financial Advisors grew its stake in BankUnited by 13.9% in 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 in the last quarter. 99.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada reduced their target price on BankUnited from $33.00 to $29.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a research report on Thursday. Barclays started coverage on BankUnited in a research report on Friday, March 8th. They set an “equal weight” rating and a $29.00 price objective for the company. Wells Fargo & Company boosted their price objective on BankUnited from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, Wedbush cut their target price on BankUnited from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.50.

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.