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

BankUnited (NYSE:BKU) released its earnings results 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. BankUnited had a return on equity of 8.38% and a net margin of 9.19%. During the same period last year, the firm earned $0.70 earnings per share.

BankUnited Stock Up 2.9 %

BankUnited stock opened at $25.18 on Thursday. BankUnited has a fifty-two week low of $15.83 and a fifty-two week high of $34.22. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.88 billion, a P/E ratio of 10.58 and a beta of 1.36. The stock has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $26.97.

BankUnited Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th will be issued a $0.29 dividend. This is an increase from BankUnited’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Thursday, April 11th. BankUnited’s payout ratio is presently 48.74%.

Analysts Set New Price Targets

BKU has been the subject of a number of recent research reports. StockNews.com lowered BankUnited from a “hold” rating to a “sell” rating in a report on Friday, February 16th. JPMorgan Chase & Co. decreased their price target on BankUnited from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Royal Bank of Canada decreased their price target on BankUnited from $33.00 to $29.00 and set a “sector perform” rating for the company in a report on Tuesday, April 9th. Wedbush decreased their price target on BankUnited from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Finally, Citigroup decreased their price target on BankUnited from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.44.

Insider Activity

In other news, insider Kevin A. Malcolm sold 2,285 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $27.18, for a total value of $62,106.30. Following the completion of the sale, the insider now directly owns 11,750 shares of the company’s stock, valued at approximately $319,365. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.19% of the company’s stock.

Institutional Trading of BankUnited

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of BankUnited by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 133,066 shares of the financial services provider’s stock valued at $4,316,000 after purchasing an additional 1,634 shares during the last quarter. GSA Capital Partners LLP acquired a new position in BankUnited in the 4th quarter valued at about $317,000. Public Employees Retirement System of Ohio increased its position in BankUnited by 56.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 75,768 shares of the financial services provider’s stock valued at $2,457,000 after acquiring an additional 27,307 shares during the period. Legal & General Group Plc increased its position in BankUnited by 1.9% in the 4th quarter. Legal & General Group Plc now owns 213,977 shares of the financial services provider’s stock valued at $6,939,000 after acquiring an additional 4,077 shares during the period. Finally, Barclays PLC increased its position in BankUnited by 8.6% in the 4th quarter. Barclays PLC now owns 222,380 shares of the financial services provider’s stock valued at $7,211,000 after acquiring an additional 17,690 shares during the period. 99.70% of the stock is owned by hedge funds and other institutional investors.

BankUnited Company Profile

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.