Wall Street analysts expect BankUnited (NYSE:BKU) to report $220.82 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 $217.00 million and the highest estimate coming in at $224.23 million. BankUnited posted sales of $328.38 million in the same quarter last year, which would indicate a negative year over year growth rate of 32.8%. The business is expected to announce its next earnings report before the market opens on Thursday, January 23rd.
According to Zacks, analysts expect that BankUnited will report full year sales of $895.08 million for the current fiscal year, with estimates ranging from $889.78 million to $900.53 million. For the next year, analysts anticipate that the firm will report sales of $908.76 million, with estimates ranging from $891.00 million to $923.98 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for BankUnited.
BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. BankUnited had a return on equity of 9.76% and a net margin of 18.04%. The business had revenue of $223.55 million for the quarter, compared to the consensus estimate of $224.93 million. During the same period in the prior year, the business posted $0.90 earnings per share.
Several equities research analysts have recently weighed in on the company. DA Davidson assumed coverage on BankUnited in a report on Tuesday, October 22nd. They issued a “buy” rating and a $39.00 price target on the stock. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of BankUnited in a report on Tuesday, October 15th. Zacks Investment Research downgraded 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. Morgan Stanley increased their price target on BankUnited from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $37.71.
In related news, CEO Rajinder P. Singh sold 76,466 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $36.35, for a total value of $2,779,539.10. Following the transaction, the chief executive officer now owns 355,749 shares of the company’s stock, valued at $12,931,476.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Pauls sold 20,731 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $35.16, for a total value of $728,901.96. Following the completion of the transaction, the director now directly owns 55,179 shares in the company, valued at approximately $1,940,093.64. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in BankUnited in the first quarter worth approximately $47,000. Toronto Dominion Bank grew its stake in BankUnited by 21.5% in the second quarter. Toronto Dominion Bank now owns 2,579 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 457 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in BankUnited in the third quarter worth approximately $158,000. Canada Pension Plan Investment Board bought a new position in BankUnited in the second quarter worth approximately $174,000. Finally, SG Americas Securities LLC bought a new position in BankUnited in the third quarter worth approximately $230,000. 96.02% of the stock is currently owned by institutional investors.
Shares of NYSE BKU traded up $0.12 during midday trading on Friday, hitting $35.16. The company’s stock had a trading volume of 775,958 shares, compared to its average volume of 459,893. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $35.95 and its two-hundred day moving average is $33.95. BankUnited has a 12-month low of $30.32 and a 12-month high of $37.60. The firm has a market cap of $3.33 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.31 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.39%. BankUnited’s payout ratio is 35.59%.
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, savings accounts, and certificates of deposit; and treasury management services.
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