BankUnited (NYSE:BKU) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

BankUnited (NYSE:BKU) released its quarterly earnings results on Wednesday. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02, Briefing.com reports. BankUnited had a net margin of 9.19% and a return on equity of 8.38%. During the same quarter last year, the firm earned $0.70 EPS.

BankUnited Price Performance

Shares of BKU opened at $25.18 on Thursday. BankUnited has a 1-year low of $15.83 and a 1-year high of $34.22. The stock has a market cap of $1.88 billion, a PE ratio of 10.58 and a beta of 1.36. The firm has a 50-day simple moving average of $26.79 and a two-hundred day simple moving average of $26.97. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.92 and a quick ratio of 0.92.

BankUnited Increases Dividend

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

Insider Buying and Selling at BankUnited

In related news, insider Kevin A. Malcolm sold 2,285 shares of BankUnited stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $27.18, for a total value of $62,106.30. Following the completion of the transaction, the insider now owns 11,750 shares in the company, valued at $319,365. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its holdings in shares of BankUnited by 83.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,918 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 1,327 shares in the last quarter. US Bancorp DE grew its holdings in BankUnited by 347.0% during the 1st quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,762 shares in the last quarter. Centiva Capital LP acquired a new position in BankUnited during the 2nd quarter worth approximately $200,000. Prelude Capital Management LLC acquired a new position in BankUnited during the 2nd quarter worth approximately $211,000. Finally, Captrust Financial Advisors grew its holdings in BankUnited by 13.9% during the 3rd quarter. Captrust Financial Advisors now owns 6,355 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 775 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on BKU shares. JPMorgan Chase & Co. dropped their price target on shares of BankUnited from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Barclays started coverage on shares of BankUnited in a research report on Friday, March 8th. They set an “equal weight” rating and a $29.00 price target on the stock. 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. Citigroup decreased their price objective on shares of BankUnited from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Finally, StockNews.com downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.44.

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.