BankUnited to Post Q1 2018 Earnings of $0.74 Per Share, Wedbush Forecasts (BKU)

BankUnited (NYSE:BKU) – Research analysts at Wedbush issued their Q1 2018 earnings per share estimates for BankUnited in a research report issued to clients and investors on Wednesday. Wedbush analyst D. Chiaverini expects that the financial services provider will earn $0.74 per share for the quarter. Wedbush also issued estimates for BankUnited’s Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.84 EPS, FY2018 earnings at $3.15 EPS and FY2019 earnings at $3.00 EPS.

BankUnited (NYSE:BKU) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. The company had revenue of $285.37 million for the quarter, compared to the consensus estimate of $270.33 million. During the same period in the prior year, the company posted $0.59 EPS.

Other research analysts also recently issued reports about the stock. Barclays restated a “buy” rating and set a $42.00 target price on shares of BankUnited in a research report on Tuesday, December 5th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Friday, January 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $41.00 price target on shares of BankUnited in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. downgraded shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. BankUnited has a consensus rating of “Buy” and an average price target of $43.09.

BankUnited (NYSE:BKU) opened at $41.90 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86. BankUnited has a 52-week low of $30.37 and a 52-week high of $43.84. The stock has a market cap of $4,480.00, a PE ratio of 7.52, a price-to-earnings-growth ratio of 1.48 and a beta of 1.09.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.00%. BankUnited’s dividend payout ratio is 15.08%.

BankUnited announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 23rd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In related 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 value of $35,880.00. Following the sale, the insider now directly owns 19,699 shares in the company, valued at approximately $706,800.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas J. Pauls sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the sale, the director now owns 31,380 shares in the company, valued at $1,321,725.60. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. raised its holdings in BankUnited by 3.7% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 64,278 shares of the financial services provider’s stock worth $2,617,000 after buying an additional 2,266 shares during the period. Assenagon Asset Management S.A. acquired a new stake in BankUnited during the 4th quarter worth approximately $8,359,000. Jennison Associates LLC raised its holdings in BankUnited by 20.6% during the 4th quarter. Jennison Associates LLC now owns 2,907,755 shares of the financial services provider’s stock worth $118,404,000 after buying an additional 496,381 shares during the period. Douglas Lane & Associates LLC raised its holdings in BankUnited by 1.2% during the 4th quarter. Douglas Lane & Associates LLC now owns 1,884,024 shares of the financial services provider’s stock worth $76,717,000 after buying an additional 21,442 shares during the period. Finally, Advisors Capital Management LLC raised its holdings in BankUnited by 13.0% during the 4th quarter. Advisors Capital Management LLC now owns 95,785 shares of the financial services provider’s stock worth $3,900,000 after buying an additional 10,999 shares during the period. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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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.

Earnings History and Estimates for BankUnited (NYSE:BKU)

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