BankUnited, Inc. (NYSE:BKU) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS
BankUnited, Inc. (NYSE:BKU) released its earnings results on Wednesday. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04, MarketWatch Earnings reports. BankUnited had a net margin of 19.38% and a return on equity of 9.66%. During the same quarter last year, the company posted $0.52 EPS.
BankUnited (NYSE BKU) traded up 2.10% during mid-day trading on Wednesday, reaching $34.46. 372,879 shares of the company’s stock were exchanged. BankUnited has a one year low of $28.13 and a one year high of $41.00. The firm has a market capitalization of $3.68 billion, a P/E ratio of 15.99 and a beta of 1.07. The company’s 50-day moving average is $33.56 and its 200 day moving average is $35.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, July 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.49%. BankUnited’s dividend payout ratio is currently 39.07%.
BKU has been the subject of several analyst reports. Keefe, Bruyette & Woods set a $41.00 price target on shares of BankUnited and gave the company a “hold” rating in a research report on Monday, April 3rd. Barclays PLC set a $42.00 price target on shares of BankUnited and gave the company a “buy” rating in a research report on Sunday, April 9th. J P Morgan Chase & Co cut shares of BankUnited from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $39.00 in a research report on Wednesday, April 26th. Deutsche Bank AG reissued a “buy” rating and set a $42.00 price target (down previously from $43.00) on shares of BankUnited in a research report on Saturday, April 29th. Finally, BidaskClub raised shares of BankUnited from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $41.17.
In other BankUnited news, Chairman John Adam Kanas sold 102,915 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $33.92, for a total value of $3,490,876.80. Following the transaction, the chairman now owns 1,145,155 shares in the company, valued at approximately $38,843,657.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 502,915 shares of company stock worth $16,804,877 in the last 90 days. 5.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BKU. Karp Capital Management Corp purchased a new position in shares of BankUnited during the first quarter worth $222,000. Worth Venture Partners LLC bought a new position in BankUnited during the first quarter valued at approximately $259,000. Nomura Holdings Inc. bought a new position in BankUnited during the first quarter valued at approximately $298,000. Parametrica Management Ltd bought a new position in BankUnited during the first quarter valued at approximately $308,000. Finally, Teza Capital Management LLC bought a new position in BankUnited during the first quarter valued at approximately $320,000. Institutional investors own 99.28% of the company’s stock.
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BankUnited Company Profile
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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