BankUnited, Inc. (BKU) Announces Quarterly Earnings Results
BankUnited, Inc. (NYSE:BKU) released its quarterly earnings data on Tuesday. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03, Briefing.com reports. The company had revenue of $294.59 million for the quarter, compared to the consensus estimate of $273.51 million. BankUnited had a return on equity of 9.81% and a net margin of 19.54%. During the same period last year, the business posted $0.47 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were given a $0.21 dividend. The ex-dividend date was Friday, October 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.41%. BankUnited’s payout ratio is 37.67%.
In related news, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $35.08, for a total value of $261,170.60. Following the transaction, the insider now owns 29,000 shares of the company’s stock, valued at $1,017,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John Adam Kanas sold 78,190 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $33.18, for a total value of $2,594,344.20. Following the completion of the transaction, the chairman now directly owns 565,076 shares in the company, valued at approximately $18,749,221.68. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
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Several research analysts have commented on the company. J P Morgan Chase & Co downgraded BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price objective on the stock. in a report on Wednesday. BidaskClub downgraded BankUnited from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Barclays PLC restated an “overweight” rating and set a $41.00 price objective (up from $38.00) on shares of BankUnited in a report on Wednesday, July 12th. BMO Capital Markets restated a “hold” rating and set a $40.00 price objective on shares of BankUnited in a report on Friday, July 7th. Finally, ValuEngine upgraded BankUnited from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.45.
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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