BankUnited (NYSE:BKU) Stock Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• BankUnited shares rose above their 50-day moving average, reaching $44.59 and last trading near $44.04, though the stock remained below its 200-day average of $46.29.
• Analyst sentiment is mixed, with six Buy, five Hold, and three Sell ratings; the overall consensus is Hold with a price target of $48.91.
• BankUnited matched quarterly earnings expectations at $1.03 per share but reported revenue below forecasts. The company also paid a quarterly dividend of $0.33, equivalent to a 3.0% annualized yield.

BankUnited, Inc. (NYSE:BKU - Get Free Report) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $43.84 and traded as high as $44.59. BankUnited shares last traded at $44.0410, with a volume of 805,458 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays reduced their price target on BankUnited from $50.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, August 3rd. Wall Street Zen raised BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Raymond James Financial reissued an "outperform" rating on shares of BankUnited in a report on Wednesday, October 21st. Piper Sandler cut their price objective on shares of BankUnited from $47.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 28th. Finally, Royal Bank Of Canada reduced their price objective on shares of BankUnited from $49.00 to $48.00 and set a "sector perform" rating for the company in a report on Thursday, October 22nd. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $48.91.

BankUnited Price Performance

The company has a 50 day moving average of $43.84 and a two-hundred day moving average of $46.29. The firm has a market cap of $3.14 billion, a P/E ratio of 11.87 and a beta of 1.20. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. BankUnited had a net margin of 15.01% and a return on equity of 9.36%. The firm had revenue of $280.44 million for the quarter, compared to analysts' expectations of $292.50 million. During the same period in the previous year, the business earned $0.95 earnings per share. Sell-side analysts expect that BankUnited, Inc. will post 3.90 EPS for the current year.

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 9th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. BankUnited's payout ratio is currently 35.58%.

Insider Activity

In related 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 in the company, valued at $2,034,408.80. The trade was a 6.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of BankUnited

A number of large investors have recently added to or reduced their stakes in BKU. BlackRock Inc. acquired a new stake in shares of BankUnited during the second quarter valued at approximately $518,492,000. Dimensional Fund Advisors LP lifted its position in shares of BankUnited by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider's stock valued at $210,390,000 after acquiring an additional 26,292 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in BankUnited in the 2nd quarter worth approximately $46,177,000. Bank of America Corp DE boosted its stake in BankUnited by 9.0% in the 1st quarter. Bank of America Corp DE now owns 819,548 shares of the financial services provider's stock worth $37,011,000 after purchasing an additional 67,981 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in BankUnited by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 360,326 shares of the financial services provider's stock worth $16,272,000 after purchasing an additional 2,176 shares during the period. 99.70% of the stock is currently owned by institutional investors.

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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