Equities research analysts forecast that BankUnited (NYSE:BKU) will report earnings of $0.72 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for BankUnited’s earnings. The highest EPS estimate is $0.76 and the lowest is $0.66. BankUnited posted earnings of $0.57 per share during the same quarter last year, which would suggest a positive year over year growth rate of 26.3%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that BankUnited will report full-year earnings of $3.19 per share for the current year, with EPS estimates ranging from $3.05 to $3.47. For the next financial year, analysts anticipate that the company will post earnings of $3.24 per share, with EPS estimates ranging from $3.08 to $3.42. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow BankUnited.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) 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 10.83%. The business had revenue of $285.37 million during the quarter, compared to the consensus estimate of $270.33 million. During the same quarter last year, the firm earned $0.59 earnings per share.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of BankUnited from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. ValuEngine downgraded shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Hovde Group downgraded shares of BankUnited from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $45.00 to $44.00 in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $41.00 price objective on shares of BankUnited in a research note on Wednesday, January 24th. Finally, UBS assumed coverage on shares of BankUnited in a research note on Wednesday, March 21st. They set a “neutral” rating and a $45.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $42.92.
Shares of BankUnited stock traded up $0.18 on Thursday, hitting $39.17. 417,537 shares of the company traded hands, compared to its average volume of 938,366. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.96 and a current ratio of 0.96. BankUnited has a 52 week low of $30.37 and a 52 week high of $43.84. The company has a market capitalization of $4,134.68, a PE ratio of 14.79, a P/E/G ratio of 1.38 and a beta of 1.04.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, April 12th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, April 11th. This represents a $0.84 dividend on an annualized basis and a yield of 2.14%. BankUnited’s dividend payout ratio is presently 31.70%.
BankUnited declared that its board has initiated a share repurchase plan on Tuesday, January 23rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Jeffrey Starr sold 2,805 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $42.89, for a total transaction of $120,306.45. Following the completion of the transaction, the insider now directly owns 48,104 shares in the company, valued at $2,063,180.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene F. Demark sold 2,682 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $42.92, for a total transaction of $115,111.44. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at $686,720. The disclosure for this sale can be found here. Insiders have sold 45,487 shares of company stock valued at $1,920,218 over the last 90 days. 2.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of BankUnited by 1.4% in the fourth quarter. BlackRock Inc. now owns 4,640,190 shares of the financial services provider’s stock worth $188,949,000 after acquiring an additional 64,553 shares during the period. Swiss National Bank raised its position in shares of BankUnited by 2.7% in the fourth quarter. Swiss National Bank now owns 181,900 shares of the financial services provider’s stock worth $7,407,000 after acquiring an additional 4,800 shares during the period. Legal & General Group Plc raised its position in shares of BankUnited by 9.9% in the third quarter. Legal & General Group Plc now owns 72,258 shares of the financial services provider’s stock worth $2,571,000 after acquiring an additional 6,482 shares during the period. Goldman Sachs Group Inc. raised its position in shares of BankUnited by 93.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 588,609 shares of the financial services provider’s stock worth $23,968,000 after acquiring an additional 284,123 shares during the period. Finally, Koch Industries Inc. acquired a new position in shares of BankUnited in the fourth quarter worth about $643,000. Institutional investors own 96.91% of the company’s stock.
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BankUnited Company Profile
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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