Brokerages expect BankUnited (NYSE:BKU) to announce $265.14 million in sales for the current fiscal quarter, Zacks Investment Research 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 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The firm 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 financial year, with estimates ranging from $999.10 million to $1.18 billion. For the next year, analysts expect that the company 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 sell-side analysts that cover BankUnited.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 EPS 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 10.83%. The business had revenue of $285.37 million for the quarter, compared to analysts’ expectations of $270.33 million. During the same period in the prior year, the firm earned $0.59 earnings per share.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Thursday. JMP Securities assumed coverage on shares of BankUnited in a research note on Tuesday, January 9th. They issued an “outperform” rating on the stock. ValuEngine cut shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Barclays raised 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, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 price objective on shares of BankUnited in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.92.
In other news, Director Douglas J. Pauls sold 40,000 shares of BankUnited stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the transaction, the director now directly owns 31,380 shares of the company’s stock, valued at $1,321,725.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Starr sold 2,805 shares of BankUnited stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $42.89, for a total transaction of $120,306.45. Following the transaction, the insider now directly owns 48,104 shares in the company, valued at $2,063,180.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,487 shares of company stock worth $1,920,218. Insiders own 2.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Maltese Capital Management LLC raised its holdings in shares of BankUnited by 1.1% during the fourth quarter. Maltese Capital Management LLC now owns 155,000 shares of the financial services provider’s stock worth $6,312,000 after acquiring an additional 1,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of BankUnited by 49.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 1,818 shares during the period. GW&K Investment Management LLC raised its holdings in shares of BankUnited by 0.5% during the fourth quarter. GW&K Investment Management LLC now owns 456,755 shares of the financial services provider’s stock worth $18,599,000 after acquiring an additional 2,145 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in shares of BankUnited by 3.7% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 64,278 shares of the financial services provider’s stock worth $2,617,000 after acquiring an additional 2,266 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of BankUnited by 26.0% during the third quarter. Great West Life Assurance Co. Can now owns 13,991 shares of the financial services provider’s stock worth $498,000 after acquiring an additional 2,889 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.
BKU stock traded down $0.06 during midday trading on Wednesday, reaching $38.91. The company’s stock had a trading volume of 615,663 shares, compared to its average volume of 956,593. BankUnited has a 52 week low of $30.37 and a 52 week high of $43.84. The stock has a market cap of $4,131.50, a PE ratio of 14.95, a PEG ratio of 1.38 and a beta of 1.04. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.96 and a current ratio of 0.96.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, April 12th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, April 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.16%. BankUnited’s dividend payout ratio is 31.70%.
BankUnited declared that its Board of Directors has authorized a share repurchase program on Tuesday, January 23rd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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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