BankUnited (NYSE:BKU) Posts Earnings Results, Beats Estimates By $0.07 EPS

BankUnited (NYSE:BKU - Get Free Report) released its quarterly earnings data on Tuesday. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07, Briefing.com reports. The company had revenue of $515.24 million for the quarter, compared to analyst estimates of $258.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. During the same period in the prior year, the company posted $0.63 EPS.

BankUnited Trading Down 0.3 %

BankUnited stock traded down $0.12 during mid-day trading on Wednesday, hitting $34.91. The stock had a trading volume of 925,890 shares, compared to its average volume of 814,193. The stock has a 50-day simple moving average of $36.47 and a two-hundred day simple moving average of $32.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $2.61 billion, a PE ratio of 15.05 and a beta of 1.33. BankUnited has a 12 month low of $21.02 and a 12 month high of $39.51.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, October 11th. BankUnited's dividend payout ratio (DPR) is presently 50.00%.

Insiders Place Their Bets

In other news, Director William S. Rubenstein sold 7,864 shares of BankUnited stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total transaction of $303,314.48. Following the completion of the sale, the director now owns 10,282 shares in the company, valued at $396,576.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BKU. JPMorgan Chase & Co. boosted their target price on shares of BankUnited from $34.50 to $41.00 and gave the company a "neutral" rating in a research note on Tuesday, July 23rd. Citigroup reduced their price target on shares of BankUnited from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 11th. Hovde Group raised their price objective on shares of BankUnited from $33.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, July 19th. Wells Fargo & Company lifted their target price on shares of BankUnited from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Finally, Wedbush increased their price target on BankUnited from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.40.

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.