BankUnited (NYSE:BKU) Announces Quarterly Earnings Results

BankUnited (NYSE:BKU) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.19, Zacks reports. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same quarter in the previous year, the company earned $0.26 EPS.

BankUnited Stock Up 0.6 %

Shares of BKU stock opened at $40.07 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. BankUnited has a 12 month low of $24.34 and a 12 month high of $44.45. The stock has a market cap of $2.99 billion, a P/E ratio of 16.42 and a beta of 1.38. The company has a 50 day simple moving average of $39.97 and a two-hundred day simple moving average of $37.46.

BankUnited Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, January 10th. BankUnited’s dividend payout ratio (DPR) is presently 47.54%.

Insider Transactions at BankUnited

In related news, COO Thomas M. Cornish sold 10,778 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the transaction, the chief operating officer now owns 100,000 shares of the company’s stock, valued at approximately $3,911,000. This represents a 9.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jay D. Richards sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total value of $102,950.00. Following the completion of the transaction, the insider now directly owns 34,687 shares in the company, valued at approximately $1,428,410.66. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays decreased their price target on BankUnited from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods lifted their target price on shares of BankUnited from $38.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wedbush increased their price target on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group boosted their price objective on shares of BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded BankUnited from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $38.00 to $48.00 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.60.

BankUnited Company Profile

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.