BankUnited (NYSE:BKU) Releases Quarterly Earnings Results, Meets Expectations

BankUnited (NYSE:BKU) issued its quarterly earnings data on Wednesday. The financial services provider reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03, FiscalAI reports. The company had revenue of $280.44 million during the quarter, compared to analyst estimates of $292.50 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.

BankUnited Trading Up 2.7%

Shares of BKU stock opened at $42.41 on Wednesday. BankUnited has a 1 year low of $36.05 and a 1 year high of $52.11. The firm has a fifty day moving average price of $44.56 and a 200-day moving average price of $46.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 11.62 and a beta of 1.20.

BankUnited Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, October 9th. BankUnited’s dividend payout ratio (DPR) is currently 36.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BKU shares. Citigroup reissued a “sell” rating on shares of BankUnited in a report on Tuesday, September 22nd. Hovde Group cut their price target on BankUnited from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Monday, September 14th. Piper Sandler cut their price target on BankUnited from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BankUnited in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of BankUnited in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, BankUnited currently has a consensus rating of “Hold” and a consensus target price of $49.45.

Insider Activity at BankUnited

In related news, Director Douglas Pauls sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total value of $143,700.00. Following the transaction, the director directly owned 42,472 shares of the company’s stock, valued at approximately $2,034,408.80. This trade represents a 6.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

BankUnited Company Profile

BankUnited, Inc (NYSE:BKU) is the bank holding company for BankUnited, N.A., a full-service commercial bank headquartered in Miami Lakes, Florida. The company provides banking and financial services to businesses, institutions and individual customers, with an emphasis on commercial banking.

BankUnited offers commercial and industrial loans, commercial real estate and multifamily financing, residential lending, mortgage warehouse facilities, consumer loans and deposit products. Its services also include treasury management, cash management, online and mobile banking, wealth management and other financial solutions designed to support business and personal banking needs.

The bank primarily serves customers in Florida and the New York metropolitan area, while its commercial banking activities extend to selected markets in other parts of the United States.