Analysts Expect BankUnited, Inc. (NYSE:BKU) to Announce $0.57 Earnings Per Share
Wall Street analysts expect that BankUnited, Inc. (NYSE:BKU) will announce earnings of $0.57 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for BankUnited’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.53. BankUnited posted earnings of $0.52 per share in the same quarter last year, which suggests a positive year over year growth rate of 9.6%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that BankUnited will report full-year earnings of $2.38 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.45. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.71 per share, with EPS estimates ranging from $2.60 to $2.77. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow BankUnited.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $258.74 million during the quarter, compared to analyst estimates of $260.46 million. BankUnited had a net margin of 19.38% and a return on equity of 9.66%. During the same period in the previous year, the business posted $0.51 EPS.
A number of research analysts have recently commented on the company. J P Morgan Chase & Co downgraded BankUnited from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $39.00 in a research report on Wednesday, April 26th. BMO Capital Markets reiterated a “hold” rating and set a $40.00 target price on shares of BankUnited in a research report on Friday, July 7th. Keefe, Bruyette & Woods set a $41.00 target price on BankUnited and gave the company a “hold” rating in a research report on Monday, April 3rd. BidaskClub upgraded BankUnited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Barclays PLC restated an “overweight” rating and issued a $41.00 price target (up from $38.00) on shares of BankUnited in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $41.17.
Shares of BankUnited (NYSE:BKU) traded up 1.78% during midday trading on Tuesday, hitting $33.75. 1,338,073 shares of the stock were exchanged. The firm’s 50-day moving average is $33.56 and its 200 day moving average is $35.92. The firm has a market cap of $3.61 billion, a PE ratio of 15.66 and a beta of 1.07. BankUnited has a 52-week low of $28.13 and a 52-week high of $41.00.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.49%. BankUnited’s dividend payout ratio is presently 39.07%.
In other news, Chairman John Adam Kanas sold 102,915 shares of BankUnited stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $33.92, for a total transaction of $3,490,876.80. Following the completion of the sale, the chairman now directly owns 1,145,155 shares in the company, valued at $38,843,657.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 502,915 shares of company stock valued at $16,804,877. 5.10% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in BKU. Parametrica Management Ltd increased its stake in BankUnited by 39.7% in the second quarter. Parametrica Management Ltd now owns 11,522 shares of the financial services provider’s stock valued at $388,000 after buying an additional 3,273 shares during the period. Russell Investments Group Ltd. increased its stake in BankUnited by 274.6% in the second quarter. Russell Investments Group Ltd. now owns 266,018 shares of the financial services provider’s stock valued at $8,968,000 after buying an additional 195,012 shares during the period. Manning & Napier Advisors LLC acquired a new stake in BankUnited during the second quarter valued at $653,000. Skylands Capital LLC increased its stake in BankUnited by 6.0% in the second quarter. Skylands Capital LLC now owns 98,700 shares of the financial services provider’s stock valued at $3,327,000 after buying an additional 5,600 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in BankUnited by 6.8% in the second quarter. Douglas Lane & Associates LLC now owns 1,777,738 shares of the financial services provider’s stock valued at $59,928,000 after buying an additional 113,364 shares during the period. Institutional investors and hedge funds own 99.28% of the company’s stock.
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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