Analysts forecast that BankUnited (NYSE:BKU) will report earnings of $0.71 per share for the current quarter, Zacks reports. Four analysts have made estimates for BankUnited’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.74. BankUnited reported earnings per share of $0.59 in the same quarter last year, which indicates a positive year-over-year growth rate of 20.3%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, January 23rd.
On average, analysts expect that BankUnited will report full-year earnings of $2.95 per share for the current fiscal year, with EPS estimates ranging from $2.91 to $2.97. For the next financial year, analysts forecast that the firm will post earnings of $3.02 per share, with EPS estimates ranging from $2.77 to $3.14. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow BankUnited.
BankUnited (NYSE:BKU) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. The firm had revenue of $223.55 million for the quarter, compared to analyst estimates of $224.93 million. BankUnited had a net margin of 18.04% and a return on equity of 9.76%. During the same quarter in the prior year, the business earned $0.90 earnings per share.
A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of BankUnited from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada initiated coverage on shares of BankUnited in a report on Tuesday, December 10th. They set an “outperform” rating and a $41.00 price target on the stock. Stephens reissued an “equal weight” rating and set a $35.00 price target on shares of BankUnited in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised shares of BankUnited from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $34.00 to $37.00 in a report on Thursday, October 24th. Finally, Zacks Investment Research downgraded shares of BankUnited from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. BankUnited has a consensus rating of “Hold” and an average price target of $37.71.
Shares of NYSE:BKU traded down $0.54 during midday trading on Friday, reaching $34.57. The company’s stock had a trading volume of 356,230 shares, compared to its average volume of 492,712. The firm has a market capitalization of $3.33 billion, a PE ratio of 14.65, a P/E/G ratio of 1.32 and a beta of 1.15. BankUnited has a twelve month low of $30.32 and a twelve month high of $37.60. The stock has a fifty day moving average of $35.95 and a 200 day moving average of $33.92. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Monday, January 13th. BankUnited’s dividend payout ratio (DPR) is presently 35.59%.
In other BankUnited news, Director Douglas J. Pauls sold 20,731 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $35.16, for a total transaction of $728,901.96. Following the transaction, the director now directly owns 55,179 shares of the company’s stock, valued at $1,940,093.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Rajinder P. Singh sold 76,466 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $36.35, for a total transaction of $2,779,539.10. Following the transaction, the chief executive officer now directly owns 355,749 shares in the company, valued at $12,931,476.15. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. purchased a new position in BankUnited during the first quarter valued at $47,000. Toronto Dominion Bank lifted its holdings in BankUnited by 21.5% during the second quarter. Toronto Dominion Bank now owns 2,579 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 457 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in BankUnited during the third quarter valued at $158,000. Canada Pension Plan Investment Board purchased a new position in BankUnited during the second quarter valued at $174,000. Finally, SG Americas Securities LLC purchased a new position in BankUnited during the third quarter valued at $230,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.
About BankUnited
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, savings accounts, and certificates of deposit; and treasury management services.
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