BankUnited (NYSE:BKU) Announces Quarterly Earnings Results

BankUnited (NYSE:BKU) released its quarterly earnings results on Wednesday. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.09, FiscalAI reports. The business had revenue of $288.20 million for the quarter, compared to analyst estimates of $279.76 million. BankUnited had a net margin of 13.98% and a return on equity of 9.18%.

BankUnited Trading Down 1.5%

BKU stock opened at $46.39 on Wednesday. BankUnited has a 12-month low of $28.21 and a 12-month high of $47.15. The business’s 50-day moving average is $44.18 and its 200 day moving average is $40.33. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 13.07 and a beta of 1.30.

BankUnited Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 9th will be given a $0.31 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.24 annualized dividend and a dividend yield of 2.7%. BankUnited’s dividend payout ratio (DPR) is 34.93%.

Institutional Trading of BankUnited

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in BankUnited by 15.3% in the 1st quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider’s stock valued at $623,000 after buying an additional 2,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BankUnited by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider’s stock valued at $1,528,000 after acquiring an additional 1,934 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of BankUnited in the 1st quarter valued at approximately $9,100,000. Strs Ohio acquired a new position in shares of BankUnited in the 1st quarter worth approximately $28,000. Finally, Invesco Ltd. boosted its position in shares of BankUnited by 1.2% during the 2nd quarter. Invesco Ltd. now owns 570,879 shares of the financial services provider’s stock worth $20,318,000 after purchasing an additional 6,815 shares during the period. Institutional investors and hedge funds own 99.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of BankUnited from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Jefferies Financial Group raised BankUnited from a “hold” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $55.00 in a report on Monday, December 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of BankUnited in a report on Thursday, October 23rd. The Goldman Sachs Group reiterated a “sell” rating and set a $43.00 price target on shares of BankUnited in a research report on Tuesday, January 6th. Finally, Hovde Group restated an “outperform” rating and issued a $51.00 price objective on shares of BankUnited in a research report on Monday, December 8th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.00.

BankUnited Company Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.