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.
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.
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