Wedbush Comments on BankUnited’s FY2019 Earnings (BKU)
BankUnited (NYSE:BKU) – Equities research analysts at Wedbush issued their FY2019 earnings per share estimates for shares of BankUnited in a research note issued to investors on Thursday. Wedbush analyst D. Chiaverini expects that the financial services provider will post earnings per share of $2.99 for the year.
Several other equities research analysts have also commented on the stock. Barclays increased their price objective on shares of BankUnited from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 price objective on shares of BankUnited in a research note on Thursday, December 14th. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 price objective on shares of BankUnited in a research note on Wednesday, December 13th. BMO Capital Markets upgraded shares of BankUnited from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Finally, Deutsche Bank decreased their price objective on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. BankUnited presently has an average rating of “Hold” and an average target price of $41.56.
BankUnited (NYSE:BKU) last posted its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The firm had revenue of $294.59 million during the quarter, compared to analyst estimates of $273.51 million. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. During the same quarter last year, the business posted $0.47 EPS.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, January 11th. BankUnited’s dividend payout ratio is currently 35.29%.
In other news, insider Mark Bagnoli sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the transaction, the insider now directly owns 19,699 shares of the company’s stock, valued at approximately $706,800.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in BankUnited by 1.5% in the 2nd quarter. Northern Trust Corp now owns 481,813 shares of the financial services provider’s stock worth $16,243,000 after buying an additional 7,337 shares during the period. Vanguard Group Inc. boosted its holdings in BankUnited by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock worth $295,602,000 after buying an additional 300,744 shares during the period. Cipher Capital LP boosted its holdings in BankUnited by 19.1% in the 3rd quarter. Cipher Capital LP now owns 116,677 shares of the financial services provider’s stock worth $4,150,000 after buying an additional 18,673 shares during the period. Victory Capital Management Inc. boosted its holdings in BankUnited by 2.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,618,948 shares of the financial services provider’s stock worth $57,586,000 after buying an additional 37,892 shares during the period. Finally, LaSalle Street Capital Management LLC boosted its holdings in BankUnited by 66.1% in the 3rd quarter. LaSalle Street Capital Management LLC now owns 10,890 shares of the financial services provider’s stock worth $387,000 after buying an additional 4,333 shares during the period. 95.26% of the stock is owned by hedge funds and other institutional investors.
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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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