BankUnited, Inc. (NYSE:BKU) Expected to Post Quarterly Sales of $266.86 Million
Analysts expect BankUnited, Inc. (NYSE:BKU) to post $266.86 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for BankUnited’s earnings, with the lowest sales estimate coming in at $241.40 million and the highest estimate coming in at $279.05 million. BankUnited posted sales of $246.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The company is expected to announce its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that BankUnited will report full year sales of $266.86 million for the current financial year, with estimates ranging from $1.01 billion to $1.10 billion. For the next year, analysts anticipate that the firm will post sales of $1.13 billion per share, with estimates ranging from $1.05 billion to $1.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for BankUnited.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $269.48 million for the quarter, compared to analyst estimates of $258.47 million. BankUnited had a return on equity of 9.66% and a net margin of 19.38%. During the same period in the previous year, the firm earned $0.52 earnings per share.
A number of analysts have recently commented on the company. J P Morgan Chase & Co lowered BankUnited from an “overweight” rating to a “neutral” rating and cut their price target for the company from $42.00 to $39.00 in a report on Wednesday, April 26th. BMO Capital Markets reaffirmed a “hold” rating and issued 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 raised BankUnited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Barclays PLC reissued an “overweight” rating and set a $41.00 price target (up previously from $38.00) on shares of BankUnited in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $41.17.
In other news, Chairman John Adam Kanas sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $33.92, for a total transaction of $6,784,000.00. Following the completion of the sale, the chairman now owns 1,145,155 shares in the company, valued at approximately $38,843,657.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 803,315 shares of company stock valued at $26,793,097. Company insiders own 5.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of BankUnited by 5.2% in the first quarter. Vanguard Group Inc. now owns 8,468,204 shares of the financial services provider’s stock worth $315,948,000 after buying an additional 421,232 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of BankUnited by 11.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,666,132 shares of the financial services provider’s stock worth $258,425,000 after buying an additional 792,163 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of BankUnited by 3.0% in the first quarter. Neuberger Berman Group LLC now owns 5,932,281 shares of the financial services provider’s stock worth $221,333,000 after buying an additional 170,686 shares in the last quarter. BlackRock Inc. increased its stake in shares of BankUnited by 14,458.5% in the first quarter. BlackRock Inc. now owns 4,958,929 shares of the financial services provider’s stock worth $185,017,000 after buying an additional 4,924,867 shares in the last quarter. Finally, FMR LLC increased its stake in shares of BankUnited by 9.3% in the first quarter. FMR LLC now owns 4,576,449 shares of the financial services provider’s stock worth $170,747,000 after buying an additional 388,495 shares in the last quarter. Institutional investors own 99.28% of the company’s stock.
BankUnited (BKU) traded up 0.649% on Thursday, reaching $34.875. The company had a trading volume of 132,159 shares. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 16.183 and a beta of 1.07. The firm has a 50 day moving average price of $33.63 and a 200-day moving average price of $35.89. BankUnited has a 12 month low of $28.13 and a 12 month high of $41.00.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $0.84 annualized dividend and a yield of 2.42%. BankUnited’s dividend payout ratio (DPR) is 39.07%.
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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