Wall Street analysts expect BankUnited (NYSE:BKU) to report $265.14 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for BankUnited’s earnings, with the lowest sales estimate coming in at $237.70 million and the highest estimate coming in at $277.37 million. BankUnited posted sales of $258.74 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The business is expected to announce its next earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that BankUnited will report full year sales of $265.14 million for the current fiscal year, with estimates ranging from $999.10 million to $1.18 billion. For the next year, analysts anticipate that the firm will report sales of $1.07 billion per share, with estimates ranging from $971.50 million to $1.17 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for BankUnited.
BankUnited (NYSE:BKU) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share for the quarter, topping 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 business had revenue of $285.37 million for the quarter, compared to analyst estimates of $270.33 million. During the same quarter in the prior year, the firm earned $0.59 EPS.
BKU has been the topic of several analyst reports. Barclays upped their target price on shares of BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Zacks Investment Research lowered shares of BankUnited from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $46.00 target price on shares of BankUnited in a 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 target price on the stock. in a report on Wednesday, November 1st. Finally, Hovde Group lowered shares of BankUnited from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $45.00 to $44.00 in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $43.09.
BankUnited (NYSE BKU) traded up $0.37 on Monday, hitting $41.23. 770,600 shares of the stock traded hands, compared to its average volume of 975,145. 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 fifty-two week low of $30.37 and a fifty-two week high of $43.84. The company has a market cap of $4,405.35, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01.
BankUnited announced that its Board of Directors has approved a share 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 reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Thursday, January 11th. BankUnited’s dividend payout ratio is currently 15.05%.
In other BankUnited news, insider Mark Bagnoli sold 1,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the sale, the insider now owns 19,699 shares of the company’s stock, valued at approximately $706,800.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas J. Pauls sold 40,000 shares of the 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 sale, the director now directly owns 31,380 shares in the company, valued at approximately $1,321,725.60. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Northern Trust Corp grew its holdings in BankUnited by 1.5% during the 2nd quarter. Northern Trust Corp now owns 481,813 shares of the financial services provider’s stock worth $16,243,000 after acquiring an additional 7,337 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of BankUnited by 9.9% in the 3rd quarter. Legal & General Group Plc now owns 72,258 shares of the financial services provider’s stock valued at $2,571,000 after purchasing an additional 6,482 shares during the last quarter. Cipher Capital LP boosted its stake in shares of BankUnited by 19.1% in the 3rd quarter. Cipher Capital LP now owns 116,677 shares of the financial services provider’s stock valued at $4,150,000 after purchasing an additional 18,673 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 valued at $57,586,000 after purchasing an additional 37,892 shares during the last quarter. Finally, LaSalle Street Capital Management LLC boosted its stake in shares of 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 valued at $387,000 after purchasing an additional 4,333 shares during the last quarter. 97.98% of the stock is currently owned by hedge funds and other institutional investors.
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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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