Brokerages Expect BankUnited (BKU) to Post $0.86 EPS

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Wall Street analysts expect BankUnited (NYSE:BKU) to post earnings of $0.86 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for BankUnited’s earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.91. BankUnited posted earnings of $0.62 per share in the same quarter last year, which suggests a positive year over year growth rate of 38.7%. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that BankUnited will report full year earnings of $3.33 per share for the current year, with EPS estimates ranging from $3.25 to $3.40. For the next financial year, analysts expect that the business will report earnings of $3.25 per share, with EPS estimates ranging from $3.03 to $3.38. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow BankUnited.

BankUnited (NYSE:BKU) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $287.24 million for the quarter, compared to the consensus estimate of $285.63 million. BankUnited had a net margin of 45.30% and a return on equity of 11.47%. During the same period in the previous year, the company earned $0.60 earnings per share.

A number of equities analysts recently weighed in on the stock. Sandler O’Neill upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Morgan Stanley lowered their target price on shares of BankUnited from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. BankUnited presently has a consensus rating of “Hold” and an average price target of $44.10.

In related news, COO Thomas M. Cornish sold 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $40.02, for a total transaction of $400,200.00. Following the transaction, the chief operating officer now directly owns 90,249 shares in the company, valued at $3,611,764.98. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY increased its holdings in shares of BankUnited by 1,225.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,796 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,585 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of BankUnited in the second quarter valued at $121,000. FTB Advisors Inc. acquired a new position in shares of BankUnited in the second quarter valued at $123,000. Timber Hill LLC acquired a new position in shares of BankUnited in the first quarter valued at $203,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of BankUnited in the second quarter valued at $223,000. Hedge funds and other institutional investors own 97.49% of the company’s stock.

Shares of BKU opened at $40.89 on Friday. The firm has a market cap of $4.26 billion, a P/E ratio of 13.17, a PEG ratio of 1.37 and a beta of 0.96. BankUnited has a 1-year low of $30.37 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.98 and a current ratio of 0.98.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Monday, July 16th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, July 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.05%. BankUnited’s payout ratio is 31.70%.

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, and savings accounts, as well as certificates of deposit; and treasury management services.

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