BankUnited (NYSE:BKU) insider Rajinder P. Singh sold 74,927 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $43.26, for a total transaction of $3,241,342.02. Following the sale, the insider now directly owns 305,221 shares of the company’s stock, valued at approximately $13,203,860.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
NYSE BKU traded down $0.44 on Wednesday, reaching $42.80. The company had a trading volume of 465,800 shares, compared to its average volume of 900,973. The stock has a market cap of $4.55 billion, a PE ratio of 16.32, a P/E/G ratio of 1.47 and a beta of 1.04. BankUnited has a 1 year low of $30.37 and a 1 year high of $43.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.45.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.05. The firm had revenue of $275.80 million during the quarter, compared to analysts’ expectations of $271.96 million. BankUnited had a return on equity of 11.16% and a net margin of 45.31%. During the same quarter in the prior year, the business earned $0.57 EPS. sell-side analysts anticipate that BankUnited will post 3.3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, April 12th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Wednesday, April 11th. BankUnited’s dividend payout ratio is presently 31.70%.
BankUnited declared that its board has authorized a share buyback program on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
A number of research firms recently issued reports on BKU. Barclays increased their target price on shares of BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $41.00 target price on shares of BankUnited in a research report on Wednesday, January 24th. UBS began coverage on shares of BankUnited in a research report on Wednesday, March 21st. They set a “neutral” rating and a $45.00 target price for the company. ValuEngine raised shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Zacks Investment Research downgraded shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. BankUnited currently has an average rating of “Hold” and an average target price of $42.92.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amica Retiree Medical Trust purchased a new position in shares of BankUnited during the 4th quarter valued at approximately $138,000. Timber Hill LLC purchased a new position in shares of BankUnited during the 1st quarter valued at approximately $203,000. First Mercantile Trust Co. purchased a new position in shares of BankUnited during the 4th quarter valued at approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BankUnited by 49.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock valued at $224,000 after buying an additional 1,818 shares during the last quarter. Finally, Bristol John W & Co. Inc. NY purchased a new position in shares of BankUnited during the 1st quarter valued at approximately $235,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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