$265.14 Million in Sales Expected for BankUnited (BKU) This Quarter

Equities research analysts expect BankUnited (NYSE:BKU) to report sales of $265.14 million for the current quarter, Zacks reports. Four analysts have issued estimates for BankUnited’s earnings, with the highest sales estimate coming in at $277.37 million and the lowest estimate coming in at $237.70 million. BankUnited posted sales of $258.74 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that BankUnited will report full year sales of $265.14 million for the current financial year, with estimates ranging from $999.10 million to $1.18 billion. For the next year, analysts anticipate that the business will post sales of $1.07 billion per share, with estimates ranging from $971.50 million to $1.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for BankUnited.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $270.33 million. During the same quarter last year, the firm posted $0.59 EPS.

Several equities analysts have recently weighed in on BKU shares. Barclays raised their price objective on shares of BankUnited from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and set a $46.00 price objective on shares of BankUnited in a research report on Wednesday, December 13th. JPMorgan Chase & Co. lowered shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, November 1st. Hovde Group lowered shares of BankUnited from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $45.00 to $44.00 in a research report on Wednesday, February 7th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $50.00 price objective (up previously from $42.00) on shares of BankUnited in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $43.09.

In other BankUnited news, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total value of $35,880.00. Following the completion of the transaction, the insider now directly owns 19,699 shares in the company, valued at $706,800.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Douglas J. Pauls sold 40,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 31,380 shares of the company’s stock, 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.

Institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new position in shares of BankUnited in the third quarter worth about $174,000. Forward Management LLC acquired a new position in shares of BankUnited in the third quarter worth about $192,000. QS Investors LLC boosted its holdings 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 worth $212,000 after buying an additional 550 shares during the period. First Mercantile Trust Co. acquired a new position in shares of BankUnited in the fourth quarter worth about $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BankUnited by 49.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,818 shares during the period. Institutional investors own 96.94% of the company’s stock.

BankUnited (NYSE BKU) opened at $39.64 on Monday. BankUnited has a 12-month low of $30.37 and a 12-month high of $43.84. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $4,235.45, a PE ratio of 7.10, a PEG ratio of 1.42 and a beta of 1.01.

BankUnited declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Thursday, January 11th. BankUnited’s payout ratio is 15.05%.

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About BankUnited

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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Earnings History and Estimates for BankUnited (NYSE:BKU)

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