Analysts Anticipate BankUnited (BKU) Will Post Earnings of $0.85 Per Share

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Equities analysts expect that BankUnited (NYSE:BKU) will announce earnings of $0.85 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for BankUnited’s earnings. The lowest EPS estimate is $0.74 and the highest is $0.99. BankUnited reported earnings per share of $0.86 in the same quarter last year, which indicates a negative year-over-year growth rate of 1.2%. The business is scheduled to announce its next earnings report on Tuesday, January 22nd.

According to Zacks, analysts expect that BankUnited will report full year earnings of $3.25 per share for the current year, with EPS estimates ranging from $2.93 to $3.48. For the next fiscal year, analysts anticipate that the business will post earnings of $3.14 per share, with EPS estimates ranging from $2.82 to $3.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover BankUnited.

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

A number of analysts have issued reports on BKU shares. Morgan Stanley cut their price objective on shares of BankUnited from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, July 31st. Barclays cut their price objective on shares of BankUnited from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, October 3rd. BMO Capital Markets cut their price objective on shares of BankUnited from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Monday. Zacks Investment Research raised shares of BankUnited from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, Stephens set a $40.00 price objective on shares of BankUnited and gave the company a “buy” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.83.

NYSE BKU traded up $0.24 during trading on Friday, reaching $34.03. The company’s stock had a trading volume of 799,180 shares, compared to its average volume of 1,235,478. 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 has a market capitalization of $3.43 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.12 and a beta of 0.97. BankUnited has a 12 month low of $29.86 and a 12 month high of $44.97.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Monday, October 15th. BankUnited’s dividend payout ratio (DPR) is presently 31.70%.

In other news, insider Mark Bagnoli sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were 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 owns 24,118 shares of the company’s stock, valued at approximately $767,434.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas M. Cornish sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $40.02, for a total transaction of $400,200.00. Following the sale, the chief operating officer now directly owns 90,249 shares of the company’s stock, valued at approximately $3,611,764.98. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in BankUnited by 43.0% during the 2nd quarter. US Bancorp DE now owns 11,333 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 3,408 shares in the last quarter. Bank of New York Mellon Corp increased its position in BankUnited by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 563,497 shares of the financial services provider’s stock worth $23,019,000 after purchasing an additional 19,029 shares in the last quarter. NorthCoast Asset Management LLC increased its position in BankUnited by 4.4% during the 2nd quarter. NorthCoast Asset Management LLC now owns 35,620 shares of the financial services provider’s stock worth $1,455,000 after purchasing an additional 1,493 shares in the last quarter. OppenheimerFunds Inc. increased its position in BankUnited by 2.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 777,471 shares of the financial services provider’s stock worth $31,760,000 after purchasing an additional 20,344 shares in the last quarter. Finally, GAM Holding AG acquired a new position in BankUnited during the 2nd quarter worth approximately $610,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

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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