Zacks: Brokerages Anticipate BankUnited, Inc. (BKU) Will Post Earnings of $0.61 Per Share
Wall Street brokerages forecast that BankUnited, Inc. (NYSE:BKU) will announce earnings per share (EPS) of $0.61 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for BankUnited’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.63. BankUnited posted earnings of $0.59 per share during the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The business is expected to report its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that BankUnited will report full-year earnings of $2.39 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.42. For the next financial year, analysts anticipate that the firm will report earnings of $2.66 per share, with EPS estimates ranging from $2.50 to $2.76. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow BankUnited.
BankUnited (NYSE:BKU) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. BankUnited had a return on equity of 10.23% and a net margin of 19.82%. The business had revenue of $294.59 million during the quarter, compared to analysts’ expectations of $273.51 million. During the same period in the previous year, the firm posted $0.47 earnings per share.
A number of brokerages have recently weighed in on BKU. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $41.00 price objective on shares of BankUnited in a research note on Thursday, September 28th. Zacks Investment Research cut BankUnited from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Deutsche Bank AG dropped their price objective on BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. ValuEngine raised BankUnited from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BidaskClub cut BankUnited from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. BankUnited presently has an average rating of “Hold” and an average target price of $40.27.
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In other BankUnited news, Chairman John Adam Kanas sold 78,190 shares of BankUnited stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $33.18, for a total transaction of $2,594,344.20. Following the completion of the sale, the chairman now directly owns 565,076 shares of the company’s stock, valued at approximately $18,749,221.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its holdings in BankUnited by 7.4% during the 2nd quarter. Comerica Bank now owns 224,682 shares of the financial services provider’s stock worth $7,451,000 after buying an additional 15,437 shares during the last quarter. Vanguard Group Inc. lifted its holdings in BankUnited by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock worth $295,602,000 after buying an additional 300,744 shares during the last quarter. Moody Aldrich Partners LLC lifted its holdings in BankUnited by 31.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 24,005 shares of the financial services provider’s stock worth $809,000 after buying an additional 5,770 shares during the last quarter. Northern Trust Corp lifted its holdings in BankUnited by 1.5% during the 2nd quarter. Northern Trust Corp now owns 481,813 shares of the financial services provider’s stock worth $16,243,000 after buying an additional 7,337 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in BankUnited by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,581,056 shares of the financial services provider’s stock worth $53,297,000 after buying an additional 30,213 shares during the last quarter. 96.11% of the stock is owned by institutional investors.
Shares of BankUnited (BKU) opened at $34.62 on Thursday. BankUnited has a one year low of $30.37 and a one year high of $41.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3,620.15, a price-to-earnings ratio of 14.24, a PEG ratio of 1.60 and a beta of 1.08.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.43%. BankUnited’s dividend payout ratio (DPR) is presently 35.29%.
BankUnited Company Profile
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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