BankUnited (NYSE:BKU) Releases Earnings Results, Beats Estimates By $0.04 EPS

BankUnited (NYSE:BKU - Get Free Report) announced its quarterly earnings results on Monday. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04, Zacks reports. The firm had revenue of $255.41 million for the quarter, compared to analysts' expectations of $264.35 million. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same period in the prior year, the business posted $0.64 earnings per share.

BankUnited Trading Up 1.6 %

BKU stock traded up $0.53 during mid-day trading on Thursday, reaching $33.24. The company had a trading volume of 738,224 shares, compared to its average volume of 787,926. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.86 and a quick ratio of 0.88. The company has a market capitalization of $2.50 billion, a PE ratio of 10.79 and a beta of 1.20. The firm has a 50 day moving average of $33.23 and a 200 day moving average of $37.23. BankUnited has a 12 month low of $26.78 and a 12 month high of $44.45.

BankUnited Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 11th were given a $0.31 dividend. This is a positive change from BankUnited's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, April 11th. BankUnited's dividend payout ratio is 38.51%.

Insiders Place Their Bets

In other BankUnited news, insider Kevin A. Malcolm sold 3,234 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $35.18, for a total value of $113,772.12. Following the transaction, the insider now directly owns 12,250 shares in the company, valued at $430,955. This represents a 20.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sanjiv Sobti bought 2,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $32.07 per share, for a total transaction of $64,140.00. Following the completion of the purchase, the director now directly owns 20,782 shares in the company, valued at approximately $666,478.74. This represents a 10.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BKU shares. Wells Fargo & Company lowered their price target on BankUnited from $50.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler upgraded BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price target on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group reduced their price target on BankUnited from $38.00 to $34.00 and set a "sell" rating on the stock in a report on Wednesday. Royal Bank of Canada lowered their price objective on BankUnited from $42.00 to $40.00 and set a "sector perform" rating for the company in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.55.

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.