BankUnited (NYSE:BKU) Posts Quarterly Earnings Results, Meets Expectations

Key Points

• BankUnited met earnings expectations, reporting quarterly EPS of $1.03, while revenue of $280.44 million fell short of the $292.50 million consensus estimate.
• The company declared a quarterly dividend of $0.33 per share, equivalent to $1.32 annually and a 3.1% yield, with a 36.16% payout ratio.
• Analyst sentiment remains mixed, with the stock holding a consensus “Hold” rating and an average price target of $49.45; shares opened at $42.41.

BankUnited (NYSE:BKU - Get Free Report) announced 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 company had revenue of $280.44 million during the quarter, compared to the consensus estimate of $292.50 million.

BankUnited Stock Performance

Shares of BKU stock opened at $42.41 on Wednesday. The company has a 50 day moving average price of $44.56 and a 200-day moving average price of $46.28. BankUnited has a 52 week low of $36.05 and a 52 week high of $52.11. The firm has a market capitalization of $3.02 billion, a PE ratio of 11.62 and a beta of 1.20. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be paid a $0.33 dividend. The ex-dividend date is Friday, October 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. BankUnited's payout ratio is currently 36.16%.

Insider Buying and Selling at BankUnited

In related news, Director Douglas Pauls sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $47.90, for a total transaction of $143,700.00. Following the transaction, the director owned 42,472 shares in the company, valued at $2,034,408.80. This represents a 6.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BKU. Cantor Fitzgerald lowered their price objective on BankUnited from $54.00 to $52.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 14th. Wall Street Zen raised BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Citigroup restated a "sell" rating on shares of BankUnited in a research note on Tuesday, September 22nd. Piper Sandler decreased their price target on BankUnited from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, October 2nd. Finally, Barclays lowered their price target on BankUnited from $50.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $49.45.

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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