Shares of BankUnited (NYSE:BKU) are down by more than 7%, despite better-than-expected financial results for the second quarter. The banking company reported a net profit of $56.7 million or $0.52 per share, marginally ahead of analysts’ estimates of $0.51 per share. BankUnited also registered a 4% increase in revenue to $243.2 million. BankUnited (NYSE:BKU) is based in Miami Lakes, Florida and managed 98 branches located in 15 Florida counties, and six banking centers in New York. The company has a market cap of $3.14 billion and the stock is currently trading at a trailing Price to Earnings (P/E) ratio of 12, significantly lower than the industry average of 27. At the end of March, 15 of the funds followed by Insider Monkey had BankUnited (NYSE:BKU) in their equity portfolios, down from 17 a quarter before. Together, these funds held roughly 5.6% of the company’s common stock.
Not Out Of The Woods Yet
Halliburton Company (NYSE:HAL) shares are slightly lower after the provider of oilfield services posted better-than-expected financial results for the 2016 second quarter. Although revenue fell by 35% year-over-year to $3.84 billion, it still surpassed analysts’ expectations of $3.75 billion. Halliburton Company (NYSE:HAL) also posted an adjusted loss of $0.14 per share, while the consensus among analysts was a loss of $0.19 per share. “Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe,” commented Dave Lesar, CEO of Halliburton. Hedge fund interest in Halliburton Company (NYSE:HAL) ticked up during the first quarter, with 54 long positions registered at the end of March, which represents 7% of the funds tracked by Insider Monkey.
Shares of Polaris Industries Inc. (NYSE:PII) are up by 8.8% this morning on results that topped the forecasts. The manufacturer of recreational vehicles posted a profit of $71.2 million or $1.09 per share on the back of $1.13 billion in revenues, above analysts’ projections of $1.11 billion in revenue and earnings of $1.07 per share. It wasn’t all good news, however. Polaris Industries Inc. (NYSE:PII) has cut full-year guidance and is now expecting earnings to range between $6 and $6.30 per share, down from previous estimates of $6.20 to $6.80 per share. The hedge fund sentiment towards Polaris Industries Inc. (NYSE:PII) took a turn for the worse during the first three months, as the number of long positions among the funds we follow fell to 17 from 20 registered at the end of December.