BankUnited, Inc. (BKU) Issues Quarterly Earnings Results

BankUnited, Inc. (NYSE:BKU) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03, Briefing.com reports. BankUnited had a net margin of 19.82% and a return on equity of 10.35%. The company had revenue of $294.59 million for the quarter, compared to analyst estimates of $273.51 million. During the same period in the prior year, the company earned $0.47 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.41%. BankUnited’s dividend payout ratio is currently 35.29%.

In other news, insider Jeffrey Starr sold 7,445 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $35.08, for a total value of $261,170.60. Following the completion of the transaction, the insider now owns 29,000 shares of the company’s stock, valued at $1,017,320. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman John Adam Kanas sold 78,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $33.18, for a total transaction of $2,594,344.20. Following the completion of the transaction, the chairman now directly owns 565,076 shares of the company’s stock, valued at approximately $18,749,221.68. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

BKU has been the topic of several recent analyst reports. Bank of America Corporation reissued a “buy” rating and set a $46.00 target price on shares of BankUnited in a research note on Monday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $39.00 target price (down from $40.00) on shares of BankUnited in a research note on Thursday, July 6th. BMO Capital Markets reissued a “hold” rating and set a $40.00 target price on shares of BankUnited in a research note on Friday, July 7th. ValuEngine lowered shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $41.00 price target (up from $38.00) on shares of BankUnited in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.45.

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About BankUnited

BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.

Earnings History for BankUnited (NYSE:BKU)

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