BankUnited Inc. (BKU) to Release Earnings on Thursday
BankUnited Inc. (NYSE:BKU) is scheduled to be posting its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect BankUnited to post earnings of $0.53 per share and revenue of $248.57 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. BankUnited had a net margin of 24.42% and a return on equity of 9.80%. During the same period in the prior year, the firm earned $0.43 EPS. On average, analysts expect BankUnited to post $2.10 EPS for the current fiscal year and $2.41 EPS for the next fiscal year.
BankUnited Inc. (NYSE:BKU) opened at 28.96 on Wednesday. The company has a 50 day moving average of $30.50 and a 200 day moving average of $31.76. BankUnited Inc. has a 1-year low of $27.85 and a 1-year high of $39.97. The firm has a market capitalization of $3.02 billion, a P/E ratio of 11.56 and a beta of 0.83.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, October 13th. BankUnited’s payout ratio is currently 33.60%.
BKU has been the subject of several research reports. Sandler O’Neill raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Wednesday, June 29th. BMO Capital Markets reissued an “outperform” rating and issued a $35.00 price target on shares of BankUnited in a research report on Wednesday, July 6th. JPMorgan Chase & Co. reduced their price target on shares of BankUnited from $40.00 to $34.50 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Royal Bank Of Canada reduced their price target on shares of BankUnited from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, July 21st. Finally, Hovde Group downgraded shares of BankUnited from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $33.00 to $30.00 in a research report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. BankUnited has a consensus rating of “Hold” and an average target price of $35.63.
In other BankUnited news, insider Mark Bagnoli sold 2,000 shares of BankUnited stock in a transaction on Friday, July 29th. The stock was sold at an average price of $30.11, for a total transaction of $60,220.00. Following the completion of the sale, the insider now directly owns 17,458 shares of the company’s stock, valued at approximately $525,660.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Starr sold 5,000 shares of BankUnited stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $31.20, for a total value of $156,000.00. Following the sale, the insider now directly owns 34,000 shares of the company’s stock, valued at $1,060,800. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Citadel Advisors LLC raised its position in BankUnited by 2,402.6% in the second quarter. Citadel Advisors LLC now owns 1,071,118 shares of the financial services provider’s stock valued at $32,905,000 after buying an additional 1,028,317 shares during the last quarter. American Century Companies Inc. raised its position in BankUnited by 25.1% in the second quarter. American Century Companies Inc. now owns 2,836,844 shares of the financial services provider’s stock valued at $87,148,000 after buying an additional 569,648 shares during the last quarter. Clinton Group Inc. raised its position in BankUnited by 1,156.6% in the second quarter. Clinton Group Inc. now owns 122,166 shares of the financial services provider’s stock valued at $3,753,000 after buying an additional 112,444 shares during the last quarter. BlackRock Group LTD raised its position in BankUnited by 20.5% in the second quarter. BlackRock Group LTD now owns 400,976 shares of the financial services provider’s stock valued at $12,318,000 after buying an additional 68,093 shares during the last quarter. Finally, Maltese Capital Management LLC bought a new position in BankUnited during the second quarter valued at approximately $1,229,000. 96.99% of the stock is owned by institutional investors and hedge funds.
BankUnited Company Profile
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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