Zacks: Analysts Anticipate BankUnited (BKU) Will Announce Quarterly Sales of $298.18 Million

Wall Street analysts expect that BankUnited (NYSE:BKU) will announce $298.18 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for BankUnited’s earnings, with estimates ranging from $287.47 million to $315.00 million. BankUnited reported sales of $285.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, January 22nd.

According to Zacks, analysts expect that BankUnited will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.13 billion to $1.17 billion. For the next year, analysts anticipate that the company will report sales of $979.67 million, with estimates ranging from $912.00 million to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow BankUnited.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. The company had revenue of $290.70 million for the quarter, compared to analyst estimates of $292.57 million. BankUnited had a net margin of 46.00% and a return on equity of 11.91%. During the same period in the prior year, the firm posted $0.62 earnings per share.

BKU has been the topic of several recent analyst reports. Morgan Stanley lowered shares of BankUnited from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $46.00 to $42.00 in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Barclays decreased their price objective on BankUnited from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, October 3rd. Sandler O’Neill set a $47.00 price objective on BankUnited and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Stephens set a $40.00 price objective on BankUnited and gave the company a “buy” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. BankUnited presently has a consensus rating of “Hold” and an average target price of $43.09.

In related news, insider Mark Bagnoli sold 1,000 shares of the stock in a transaction on Friday, October 26th. The stock was sold at an average price of $31.82, for a total transaction of $31,820.00. Following the completion of the sale, the insider now directly owns 24,118 shares of the company’s stock, valued at $767,434.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas M. Cornish sold 10,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $40.02, for a total value of $400,200.00. Following the sale, the chief operating officer now directly owns 90,249 shares of the company’s stock, valued at $3,611,764.98. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY lifted its holdings in shares of BankUnited by 1,225.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 2,796 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,585 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of BankUnited during the second quarter worth $121,000. FTB Advisors Inc. acquired a new stake in shares of BankUnited during the second quarter worth $123,000. Signition LP acquired a new stake in shares of BankUnited during the third quarter worth $207,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of BankUnited during the second quarter worth $223,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

BankUnited stock traded down $0.16 during mid-day trading on Friday, hitting $34.50. The company had a trading volume of 924,269 shares, compared to its average volume of 935,074. The firm has a market capitalization of $3.51 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.17 and a beta of 0.97. BankUnited has a 1 year low of $29.86 and a 1 year high of $44.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.64.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Monday, October 15th. BankUnited’s payout ratio is currently 31.70%.

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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