BankUnited, Inc. (BKU) Forecasted to Earn FY2017 Earnings of $2.40 Per Share
BankUnited, Inc. (NYSE:BKU) – Stock analysts at Wedbush lifted their FY2017 earnings per share estimates for shares of BankUnited in a research note issued on Tuesday. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $2.40 per share for the year, up from their prior estimate of $2.38. Wedbush also issued estimates for BankUnited’s Q1 2018 earnings at $0.62 EPS and FY2018 earnings at $2.70 EPS.
Several other research analysts have also recently weighed in on the company. Bank of America Corporation reissued a “buy” rating and issued a $46.00 price objective on shares of BankUnited in a research report on Monday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price target (down previously from $40.00) on shares of BankUnited in a research report on Thursday, July 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $40.00 price target on shares of BankUnited in a research report on Friday, July 7th. ValuEngine cut BankUnited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Barclays PLC reaffirmed 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. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. BankUnited currently has an average rating of “Hold” and an average price target of $40.45.
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BankUnited (NYSE:BKU) last announced its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. BankUnited had a return on equity of 10.35% and a net margin of 19.82%. The business had revenue of $294.59 million during the quarter, compared to the consensus estimate of $273.51 million. During the same quarter last year, the firm posted $0.47 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKU. Karp Capital Management Corp purchased a new stake in BankUnited in the 1st quarter worth approximately $222,000. Principal Financial Group Inc. lifted its stake in shares of BankUnited by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 258 shares during the period. Teachers Advisors LLC lifted its stake in shares of BankUnited by 2.9% in the 1st quarter. Teachers Advisors LLC now owns 701,942 shares of the financial services provider’s stock valued at $26,189,000 after purchasing an additional 19,530 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of BankUnited by 12.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 250,413 shares of the financial services provider’s stock valued at $9,343,000 after purchasing an additional 26,937 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of BankUnited by 54.3% in the 1st quarter. Legal & General Group Plc now owns 65,363 shares of the financial services provider’s stock valued at $2,438,000 after purchasing an additional 22,991 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.
In other BankUnited news, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was 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 owns 29,000 shares in the company, valued at approximately $1,017,320. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John Adam Kanas sold 78,190 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 565,076 shares of the company’s stock, valued at approximately $18,749,221.68. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.41%. The ex-dividend date was Friday, October 13th. BankUnited’s dividend payout ratio is presently 35.29%.
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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