BankUnited (NYSE:BKU) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

BankUnited (NYSE:BKU - Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.12, Zacks reports. The company had revenue of $273.93 million during the quarter, compared to analysts' expectations of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%. During the same period last year, the business earned $0.72 earnings per share.

BankUnited Stock Down 0.9%

Shares of NYSE:BKU traded down $0.34 during trading on Friday, hitting $38.47. 716,011 shares of the company were exchanged, compared to its average volume of 829,491. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 11.28 and a beta of 1.29. BankUnited has a fifty-two week low of $28.21 and a fifty-two week high of $44.45. The firm has a fifty day moving average price of $35.77 and a two-hundred day moving average price of $35.79. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.

BankUnited Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, July 11th. BankUnited's dividend payout ratio (DPR) is 38.51%.

Insider Activity at BankUnited

In related news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total transaction of $34,430.00. Following the transaction, the director directly owned 14,516 shares of the company's stock, valued at approximately $499,785.88. The trade was a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total value of $764,362.56. Following the transaction, the chief financial officer directly owned 59,899 shares in the company, valued at $2,010,210.44. The trade was a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in BankUnited in the 1st quarter valued at $28,000. Royal Bank of Canada grew its holdings in BankUnited by 15.3% in the 1st quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock valued at $623,000 after buying an additional 2,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BankUnited by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider's stock valued at $1,528,000 after buying an additional 1,934 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in BankUnited in the 1st quarter valued at $9,100,000. 99.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup lifted their price objective on BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Barclays lifted their price objective on BankUnited from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wall Street Zen upgraded BankUnited from a "sell" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group began coverage on BankUnited in a report on Wednesday, May 21st. They set a "hold" rating and a $39.00 target price on the stock. Finally, Piper Sandler restated a "neutral" rating and set a $43.00 target price (up previously from $41.00) on shares of BankUnited in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, BankUnited has a consensus rating of "Hold" and an average price target of $41.18.

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.