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

by · The Markets Daily

BankUnited (NYSE:BKU – Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $258.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. During the same period last year, the company earned $0.63 EPS.

BankUnited Stock Up 1.5 %

BKU stock traded up $0.52 during mid-day trading on Thursday, reaching $35.41. 801,375 shares of the company traded hands, compared to its average volume of 814,130. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 15.05 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. BankUnited has a fifty-two week low of $21.02 and a fifty-two week high of $39.51. The firm’s 50 day moving average price is $36.47 and its 200 day moving average price is $32.34.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.28%. BankUnited’s dividend payout ratio (DPR) is currently 50.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays lifted their price objective on BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Hovde Group lifted their price objective on BankUnited from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Citigroup lowered their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $37.00 price objective on shares of BankUnited in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, BankUnited currently has a consensus rating of “Hold” and a consensus target price of $36.40.

Check Out Our Latest Stock Analysis on BankUnited

Insider Buying and Selling at BankUnited

In other BankUnited news, Director William S. Rubenstein sold 7,864 shares of BankUnited 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 completion of the transaction, the director now owns 10,282 shares in the company, valued at approximately $396,576.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.19% of the company’s stock.

BankUnited Company Profile

(Get Free Report)

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.

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