Brokerages expect BankUnited (NYSE:BKU) to announce sales of $265.14 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for BankUnited’s earnings, with the lowest sales estimate coming in at $237.70 million and the highest estimate coming in at $277.37 million. BankUnited posted sales of $258.74 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that BankUnited will report full-year sales of $265.14 million for the current fiscal year, with estimates ranging from $999.10 million to $1.18 billion. For the next financial year, analysts forecast that the business will report sales of $1.07 billion per share, with estimates ranging from $971.50 million to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow BankUnited.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.24. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. The firm had revenue of $285.37 million for the quarter, compared to the consensus estimate of $270.33 million. During the same quarter in the previous year, the firm posted $0.59 EPS.
Several research firms recently issued reports on BKU. Barclays lifted their price target on shares of BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $41.00 price target on shares of BankUnited in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Friday, January 12th. ValuEngine raised shares of BankUnited from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $42.00) on shares of BankUnited in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.09.
In other news, Director Douglas J. Pauls sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $42.12, for a total value of $1,684,800.00. Following the completion of the sale, the director now owns 31,380 shares of the company’s stock, valued at approximately $1,321,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the sale, the insider now directly owns 19,699 shares of the company’s stock, valued at approximately $706,800.12. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. QS Investors LLC boosted its holdings in shares of BankUnited by 9.6% in the 2nd quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock valued at $212,000 after buying an additional 550 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of BankUnited by 11.5% in the 3rd quarter. Pacer Advisors Inc. now owns 16,183 shares of the financial services provider’s stock valued at $576,000 after buying an additional 1,675 shares during the period. Maltese Capital Management LLC boosted its holdings in shares of BankUnited by 1.1% in the 4th quarter. Maltese Capital Management LLC now owns 155,000 shares of the financial services provider’s stock valued at $6,312,000 after buying an additional 1,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BankUnited by 49.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock valued at $224,000 after buying an additional 1,818 shares during the period. Finally, Cambiar Investors LLC boosted its holdings in shares of BankUnited by 2.0% in the 3rd quarter. Cambiar Investors LLC now owns 109,220 shares of the financial services provider’s stock valued at $3,885,000 after buying an additional 2,131 shares during the period. 97.98% of the stock is owned by institutional investors.
BankUnited (BKU) traded up $0.37 during trading on Monday, reaching $41.23. 770,600 shares of the company traded hands, compared to its average volume of 975,145. BankUnited has a 12-month low of $30.37 and a 12-month high of $43.84. The stock has a market cap of $4,405.35, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.96 and a quick ratio of 0.96.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, January 11th. BankUnited’s payout ratio is currently 15.05%.
BankUnited announced that its board has authorized a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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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