Key Points
- BankUnited director John Digiacomo sold 1,000 shares on June 1 at an average price of $45.97, totaling $45,970. After the sale, he still held 15,027 shares valued at about $690,791.
- BankUnited shares were trading up 1.9% at $46.67, with the stock sitting near its 50-day and 200-day moving averages and within its 52-week range of $33.33 to $52.11.
- The company recently raised its quarterly dividend to $0.33 per share from $0.31, which works out to an annualized yield of 2.8%. BankUnited also reported quarterly EPS of $0.83, below analyst expectations of $0.97.
BankUnited, Inc. (NYSE:BKU - Get Free Report) Director John Digiacomo sold 1,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.97, for a total transaction of $45,970.00. Following the transaction, the director owned 15,027 shares of the company's stock, valued at $690,791.19. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
BankUnited Trading Up 1.9%
NYSE BKU opened at $46.67 on Wednesday. The company has a market capitalization of $3.39 billion, a PE ratio of 13.00 and a beta of 1.17. The company has a fifty day moving average of $46.20 and a 200 day moving average of $45.86. BankUnited, Inc. has a 1 year low of $33.33 and a 1 year high of $52.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.82.
BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.14). The business had revenue of $273.69 million for the quarter, compared to analyst estimates of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Research analysts forecast that BankUnited, Inc. will post 4.16 earnings per share for the current year.
BankUnited Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 10th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from BankUnited's previous quarterly dividend of $0.31. The ex-dividend date was Friday, April 10th. BankUnited's payout ratio is currently 36.77%.
Wall Street Analysts Forecast Growth
BKU has been the subject of a number of analyst reports. Hovde Group decreased their price objective on shares of BankUnited from $57.00 to $53.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Citigroup decreased their price objective on shares of BankUnited from $53.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, April 24th. Weiss Ratings upgraded shares of BankUnited from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Barclays decreased their price objective on shares of BankUnited from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 7th. Finally, Zacks Research downgraded shares of BankUnited from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 14th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.27.
Read Our Latest Report on BKU
Institutional Trading of BankUnited
A number of institutional investors and hedge funds have recently modified their holdings of BKU. Royal Bank of Canada increased its stake in shares of BankUnited by 15.3% during the first quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock worth $623,000 after purchasing an additional 2,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $1,528,000 after purchasing an additional 1,934 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of BankUnited during the first quarter worth about $9,100,000. Strs Ohio purchased a new stake in shares of BankUnited during the first quarter worth about $28,000. Finally, Invesco Ltd. increased its stake in shares of BankUnited by 1.2% during the second 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 in the last quarter. Hedge funds and other institutional investors own 99.70% of the company's stock.
BankUnited Company Profile
(
Get Free Report)
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.
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