BankUnited (NYSE:BKU) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

BankUnited (NYSE:BKUGet Free Report) released its earnings results on Wednesday. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03), Briefing.com reports. BankUnited had a return on equity of 9.11% and a net margin of 14.46%.During the same quarter last year, the firm earned $0.91 earnings per share.

BankUnited Stock Performance

Shares of NYSE BKU opened at $48.03 on Wednesday. The company has a 50 day simple moving average of $47.63 and a two-hundred day simple moving average of $47.02. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 13.38 and a beta of 1.17. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. BankUnited has a 12 month low of $34.79 and a 12 month high of $52.11.

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, July 10th. BankUnited’s payout ratio is presently 36.77%.

Analyst Upgrades and Downgrades

BKU has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of BankUnited from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Zacks Research raised shares of BankUnited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Keefe, Bruyette & Woods cut their target price on BankUnited from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings upgraded BankUnited from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, Barclays lowered their price target on BankUnited from $53.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.73.

Check Out Our Latest Stock Report on BankUnited

Insiders Place Their Bets

In related news, insider Jay D. Richards sold 4,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the transaction, the insider owned 40,502 shares of the company’s stock, valued at $1,971,232.34. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.97, for a total transaction of $45,970.00. Following the transaction, the director directly owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. This trade represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BankUnited

Institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in shares of BankUnited during the 4th quarter valued at about $35,000. Strs Ohio purchased a new stake in shares of BankUnited in the first quarter worth about $28,000. Quarry LP grew its holdings in BankUnited by 158.2% during the third quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 576 shares during the period. EverSource Wealth Advisors LLC grew its holdings in BankUnited by 141.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,531 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 898 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in BankUnited by 24.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,810 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

BankUnited Company Profile

(Get Free Report)

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.

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Earnings History for BankUnited (NYSE:BKU)

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