BankUnited (NYSE:BKU – Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.03 earnings per share for the quarter, meeting the consensus estimate of $1.03, FiscalAI reports. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business had revenue of $280.44 million during the quarter, compared to analysts’ expectations of $292.50 million.
BankUnited Trading Up 2.7%
Shares of BKU stock opened at $42.41 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $3.02 billion, a PE ratio of 11.62 and a beta of 1.20. The company has a 50-day moving average of $44.56 and a two-hundred day moving average of $46.28. BankUnited has a 1-year low of $36.05 and a 1-year high of $52.11.
BankUnited Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, October 9th. BankUnited’s dividend payout ratio (DPR) is 36.16%.
Insider Buying and Selling at BankUnited
In other news, Director Douglas Pauls sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the sale, the director directly owned 42,472 shares of the company’s stock, valued at approximately $2,034,408.80. The trade was a 6.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have recently commented on BKU shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target (down from $54.00) on shares of BankUnited in a research report on Tuesday, September 29th. Jefferies Financial Group reiterated a “buy” rating on shares of BankUnited in a report on Wednesday, July 22nd. Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Zacks Research cut BankUnited from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Finally, Raymond James Financial cut their target price on BankUnited from $52.00 to $49.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.45.
Get Our Latest Analysis on BankUnited
About BankUnited
BankUnited, Inc (NYSE:BKU) is the bank holding company for BankUnited, N.A., a full-service commercial bank headquartered in Miami Lakes, Florida. The company provides banking and financial services to businesses, institutions and individual customers, with an emphasis on commercial banking.
BankUnited offers commercial and industrial loans, commercial real estate and multifamily financing, residential lending, mortgage warehouse facilities, consumer loans and deposit products. Its services also include treasury management, cash management, online and mobile banking, wealth management and other financial solutions designed to support business and personal banking needs.
The bank primarily serves customers in Florida and the New York metropolitan area, while its commercial banking activities extend to selected markets in other parts of the United States.
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