BankUnited (NYSE:BKU) Announces Earnings Results

BankUnited (NYSE:BKU) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.10), FiscalAI reports. The company had revenue of $273.69 million during the quarter, compared to analysts’ expectations of $284.57 million. BankUnited had a net margin of 14.14% and a return on equity of 9.09%. During the same quarter last year, the firm posted $0.78 earnings per share.

BankUnited Trading Down 3.3%

Shares of BKU stock opened at $45.22 on Wednesday. The company has a market capitalization of $3.33 billion, a PE ratio of 12.77 and a beta of 1.26. The firm has a 50 day moving average price of $46.29 and a two-hundred day moving average price of $44.45. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.51. BankUnited has a 12-month low of $31.34 and a 12-month high of $52.11.

BankUnited Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 10th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, April 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from BankUnited’s previous quarterly dividend of $0.31. BankUnited’s dividend payout ratio is 37.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BKU shares. Barclays reduced their target price on BankUnited from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler upped their price objective on shares of BankUnited from $42.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Weiss Ratings raised shares of BankUnited from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Jefferies Financial Group reduced their price objective on shares of BankUnited from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of BankUnited from $42.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.82.

Insider Buying and Selling

In other BankUnited news, Director Sanjiv Sobti sold 5,000 shares of BankUnited stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $50.88, for a total transaction of $254,400.00. Following the completion of the sale, the director directly owned 18,816 shares in the company, valued at $957,358.08. The trade was a 20.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin A. Malcolm sold 3,447 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $47.11, for a total value of $162,388.17. Following the transaction, the insider directly owned 11,500 shares in the company, valued at $541,765. This trade represents a 23.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,953 shares of company stock valued at $591,492 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BankUnited

A number of large investors have recently made changes to their positions in BKU. HoldCo Asset Management LP boosted its position in shares of BankUnited by 277.3% during the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider’s stock valued at $157,568,000 after acquiring an additional 2,598,382 shares during the last quarter. Millennium Management LLC boosted its holdings in BankUnited by 1,066.9% during the fourth quarter. Millennium Management LLC now owns 1,399,655 shares of the financial services provider’s stock worth $62,383,000 after buying an additional 1,279,712 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in BankUnited by 73.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider’s stock worth $68,728,000 after purchasing an additional 652,926 shares during the period. Wellington Management Group LLP lifted its holdings in BankUnited by 23.1% in the third quarter. Wellington Management Group LLP now owns 3,070,822 shares of the financial services provider’s stock valued at $117,183,000 after acquiring an additional 576,843 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of BankUnited during the 4th quarter worth about $15,687,000. 99.70% of the stock is currently owned by institutional investors.

About BankUnited

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.