$272.96 Million in Sales Expected for BankUnited (BKU) This Quarter

Wall Street analysts predict that BankUnited (NYSE:BKU) will post sales of $272.96 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for BankUnited’s earnings, with the lowest sales estimate coming in at $262.30 million and the highest estimate coming in at $282.94 million. BankUnited posted sales of $246.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The firm is scheduled to issue its next earnings results before the market opens on Tuesday, October 31st.

On average, analysts expect that BankUnited will report full year sales of $272.96 million for the current year, with estimates ranging from $1.02 billion to $1.12 billion. For the next year, analysts forecast that the company will report sales of $1.14 billion per share, with estimates ranging from $1.08 billion to $1.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for BankUnited.

BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $269.48 million for the quarter, compared to analyst estimates of $258.47 million. BankUnited had a net margin of 24.64% and a return on equity of 10.03%. During the same quarter last year, the firm earned $0.52 EPS.

BKU has been the subject of a number of research analyst reports. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Wedbush reaffirmed a “neutral” rating and set a $35.00 price objective on shares of BankUnited in a research report on Tuesday, June 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price objective (down from $40.00) on shares of BankUnited in a research report on Thursday, July 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $40.00 price objective on shares of BankUnited in a research report on Friday, July 7th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $46.00 price objective on shares of BankUnited in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.82.

ILLEGAL ACTIVITY WARNING: “$272.96 Million in Sales Expected for BankUnited (BKU) This Quarter” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/12/272-96-million-in-sales-expected-for-bankunited-bku-this-quarter.html.

Shares of BankUnited (NYSE BKU) traded down 0.58% on Monday, hitting $34.54. 564,389 shares of the stock traded hands. The stock has a market cap of $3.69 billion, a PE ratio of 15.45 and a beta of 1.10. BankUnited has a 1-year low of $28.13 and a 1-year high of $41.00. The stock has a 50 day moving average of $33.83 and a 200-day moving average of $34.22.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, October 13th. BankUnited’s dividend payout ratio is currently 37.67%.

In related news, insider Jeffrey Starr sold 7,445 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $35.08, for a total value of $261,170.60. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John Adam Kanas sold 78,190 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $18,749,221.68. The disclosure for this sale can be found here. Insiders have sold 386,035 shares of company stock valued at $12,843,735 in the last three months. Insiders own 5.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado raised its stake in BankUnited by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 128 shares in the last quarter. ProShare Advisors LLC raised its stake in BankUnited by 0.8% in the second quarter. ProShare Advisors LLC now owns 18,716 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 146 shares in the last quarter. Teton Advisors Inc. raised its stake in BankUnited by 1.0% in the second quarter. Teton Advisors Inc. now owns 25,670 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 257 shares in the last quarter. Principal Financial Group Inc. raised its stake in BankUnited by 1.6% in the first quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 258 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BankUnited by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 276 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

BankUnited Company Profile

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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On average, analysts expect that BankUnited will report full year sales of $272.96 million for the current year, with estimates ranging from $1.02 billion to $1.12 billion. For the next year, analysts forecast that the company will report sales of $1.14 billion per share, with estimates ranging from $1.08 billion to $1.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for BankUnited.

BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $269.48 million for the quarter, compared to analyst estimates of $258.47 million. BankUnited had a net margin of 24.64% and a return on equity of 10.03%. During the same quarter last year, the firm earned $0.52 EPS.

BKU has been the subject of a number of research analyst reports. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Wedbush reaffirmed a “neutral” rating and set a $35.00 price objective on shares of BankUnited in a research report on Tuesday, June 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price objective (down from $40.00) on shares of BankUnited in a research report on Thursday, July 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $40.00 price objective on shares of BankUnited in a research report on Friday, July 7th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $46.00 price objective on shares of BankUnited in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.82.

ILLEGAL ACTIVITY WARNING: “$272.96 Million in Sales Expected for BankUnited (BKU) This Quarter” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/12/272-96-million-in-sales-expected-for-bankunited-bku-this-quarter.html.

Shares of BankUnited (NYSE BKU) traded down 0.58% on Monday, hitting $34.54. 564,389 shares of the stock traded hands. The stock has a market cap of $3.69 billion, a PE ratio of 15.45 and a beta of 1.10. BankUnited has a 1-year low of $28.13 and a 1-year high of $41.00. The stock has a 50 day moving average of $33.83 and a 200-day moving average of $34.22.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, October 13th. BankUnited’s dividend payout ratio is currently 37.67%.

In related news, insider Jeffrey Starr sold 7,445 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $35.08, for a total value of $261,170.60. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John Adam Kanas sold 78,190 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $18,749,221.68. The disclosure for this sale can be found here. Insiders have sold 386,035 shares of company stock valued at $12,843,735 in the last three months. Insiders own 5.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado raised its stake in BankUnited by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 128 shares in the last quarter. ProShare Advisors LLC raised its stake in BankUnited by 0.8% in the second quarter. ProShare Advisors LLC now owns 18,716 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 146 shares in the last quarter. Teton Advisors Inc. raised its stake in BankUnited by 1.0% in the second quarter. Teton Advisors Inc. now owns 25,670 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 257 shares in the last quarter. Principal Financial Group Inc. raised its stake in BankUnited by 1.6% in the first quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 258 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BankUnited by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 276 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

BankUnited Company Profile

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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Earnings History and Estimates for BankUnited (NYSE:BKU)

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