BankUnited, Inc. (BKU) Expected to Post Quarterly Sales of $269.76 Million
Equities research analysts expect BankUnited, Inc. (NYSE:BKU) to post $269.76 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for BankUnited’s earnings, with the highest sales estimate coming in at $285.13 million and the lowest estimate coming in at $247.30 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 9.3%. The business is expected to report its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that BankUnited will report full-year sales of $269.76 million for the current year, with estimates ranging from $954.90 million to $1.12 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.14 billion per share, with estimates ranging from $1.05 billion to $1.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow BankUnited.
BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. The company had revenue of $269.48 million during the quarter, compared to the consensus estimate of $258.47 million. During the same period in the prior year, the company earned $0.52 EPS.
BKU has been the topic of several recent research reports. Bank of America Corporation reiterated a “buy” rating and issued a $46.00 price target on shares of BankUnited in a report on Monday, July 10th. J P Morgan Chase & Co cut BankUnited from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $39.00 in a report on Wednesday, April 26th. Deutsche Bank AG reiterated a “buy” rating and issued a $42.00 price target (down previously from $43.00) on shares of BankUnited in a report on Saturday, April 29th. Morgan Stanley reiterated an “overweight” rating and issued a $39.00 price target (down previously from $40.00) on shares of BankUnited in a report on Thursday, July 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $35.00 price target on shares of BankUnited in a report on Tuesday, June 27th. One investment 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’s stock. BankUnited presently has a consensus rating of “Buy” and an average target price of $41.17.
In other BankUnited news, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $35.08, for a total transaction of $261,170.60. Following the transaction, the insider now owns 29,000 shares in the company, valued at $1,017,320. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman John Adam Kanas sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $32.65, for a total value of $6,530,000.00. Following the transaction, the chairman now owns 948,070 shares in the company, valued at approximately $30,954,485.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 810,760 shares of company stock worth $27,054,267. Company insiders own 5.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its position in shares of 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 worth $110,000 after buying an additional 128 shares during the period. ProShare Advisors LLC boosted its position in shares of BankUnited by 0.8% in the second quarter. ProShare Advisors LLC now owns 18,716 shares of the financial services provider’s stock worth $631,000 after buying an additional 146 shares during the period. Teton Advisors Inc. boosted its position in shares of BankUnited by 1.0% in the second quarter. Teton Advisors Inc. now owns 25,670 shares of the financial services provider’s stock worth $865,000 after buying an additional 257 shares during the period. Principal Financial Group Inc. boosted its position in shares of BankUnited by 1.6% in the first quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $610,000 after buying an additional 258 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BankUnited by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock worth $124,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 99.90% of the company’s stock.
Shares of BankUnited (BKU) traded up 0.41% during midday trading on Tuesday, reaching $34.07. 149,778 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $33.78 and a 200-day moving average of $35.70. BankUnited has a 1-year low of $28.13 and a 1-year high of $41.00. The company has a market capitalization of $3.64 billion, a PE ratio of 15.24 and a beta of 1.07.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, July 12th. BankUnited’s dividend payout ratio (DPR) is currently 37.67%.
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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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