BankUnited, Inc. (BKU) Expected to Post Quarterly Sales of $273.51 Million
Analysts expect that BankUnited, Inc. (NYSE:BKU) will post $273.51 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 $282.94 million and the lowest estimate coming in at $262.30 million. BankUnited posted sales of $246.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.8%. The business is scheduled to report its next quarterly earnings report before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that BankUnited will report full year sales of $273.51 million for the current year, with estimates ranging from $1.02 billion to $1.12 billion. For the next financial year, analysts forecast that the business will report sales of $1.14 billion per share, with estimates ranging from $1.08 billion to $1.18 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover BankUnited.
BankUnited (NYSE:BKU) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. BankUnited had a return on equity of 9.81% and a net margin of 19.54%. During the same period in the prior year, the firm posted $0.52 earnings per share.
BKU has been the subject of several recent research reports. Bank of America Corporation reiterated a “buy” rating and set a $46.00 price objective on shares of BankUnited in a report on Monday, July 10th. BidaskClub lowered BankUnited from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. ValuEngine lowered BankUnited from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Morgan Stanley reiterated an “overweight” rating and set a $39.00 price objective (down from $40.00) on shares of BankUnited in a report on Thursday, July 6th. Finally, Barclays PLC reiterated an “overweight” rating and set a $41.00 price objective (up from $38.00) on shares of BankUnited in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. BankUnited has a consensus rating of “Buy” and a consensus price target of $40.82.
BankUnited (NYSE BKU) opened at 35.76 on Friday. BankUnited has a 1-year low of $28.38 and a 1-year high of $41.00. The company has a 50-day moving average price of $34.14 and a 200 day moving average price of $34.06. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.00 and a beta of 1.10.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.84 annualized dividend and a yield of 2.35%. BankUnited’s dividend payout ratio (DPR) is currently 37.67%.
In other news, Chairman John Adam Kanas sold 78,190 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $33.18, for a total value of $2,594,344.20. Following the sale, the chairman now directly owns 565,076 shares of the company’s stock, valued at $18,749,221.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $35.08, for a total value of $261,170.60. Following the completion of the sale, the insider now directly owns 29,000 shares in the company, valued at $1,017,320. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Several large investors have recently modified their holdings of BKU. Public Employees Retirement Association of Colorado grew 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 valued at $110,000 after purchasing an additional 128 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $124,000 after purchasing an additional 276 shares during the last quarter. QS Investors LLC grew its position in shares of BankUnited by 9.6% in the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. LaSalle Street Capital Management LLC acquired a new stake in shares of BankUnited in the second quarter valued at about $221,000. Finally, Karp Capital Management Corp acquired a new stake in shares of BankUnited in the first quarter valued at about $222,000. 97.71% of the stock is currently owned by institutional investors.
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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