BankUnited (NYSE:BKU) Posts Earnings Results, Beats Estimates By $0.02 EPS

BankUnited (NYSE:BKU) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02, Briefing.com reports. The firm had revenue of $508.35 million during the quarter, compared to analysts’ expectations of $239.84 million. BankUnited had a net margin of 8.71% and a return on equity of 8.06%. During the same period last year, the company earned $0.70 earnings per share.

BankUnited Stock Up 2.8 %

BKU opened at $25.89 on Friday. The stock has a market cap of $1.94 billion, a PE ratio of 11.16 and a beta of 1.36. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 1.48. BankUnited has a 52 week low of $15.83 and a 52 week high of $34.22. The business’s fifty day simple moving average is $26.79 and its 200 day simple moving average is $26.96.

BankUnited Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from BankUnited’s previous quarterly dividend of $0.27. BankUnited’s dividend payout ratio is currently 50.00%.

Insider Activity at BankUnited

In other news, insider Kevin A. Malcolm sold 2,285 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $27.18, for a total transaction of $62,106.30. Following the transaction, the insider now directly owns 11,750 shares of the company’s stock, valued at $319,365. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BKU. Public Employees Retirement System of Ohio grew its stake in shares of BankUnited by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 48,210 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 512 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of BankUnited by 2.9% in the first quarter. PNC Financial Services Group Inc. now owns 18,775 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 533 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of BankUnited by 13.9% in the third quarter. Captrust Financial Advisors now owns 6,355 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 775 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of BankUnited by 9.5% in the fourth quarter. Engineers Gate Manager LP now owns 11,891 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 1,029 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of BankUnited by 9.3% in the third quarter. Envestnet Asset Management Inc. now owns 14,719 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 1,255 shares during the last quarter. 99.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BKU shares. Wedbush dropped their price target on shares of BankUnited from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Keefe, Bruyette & Woods dropped their target price on shares of BankUnited from $33.00 to $31.00 and set a “market perform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their target price on shares of BankUnited from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Barclays initiated coverage on shares of BankUnited in a research report on Friday, March 8th. They set an “equal weight” rating and a $29.00 target price for the company. Finally, Wells Fargo & Company upped their price objective on BankUnited from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, BankUnited has an average rating of “Hold” and a consensus target price of $30.50.

About BankUnited

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.