Zacks: Brokerages Expect BankUnited (BKU) Will Post Quarterly Sales of $265.14 Million

Analysts forecast that BankUnited (NYSE:BKU) will post $265.14 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for BankUnited’s earnings. The lowest sales estimate is $237.70 million and the highest is $277.37 million. BankUnited reported sales of $258.74 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, April 24th.

On average, analysts expect that BankUnited will report full year sales of $265.14 million for the current financial year, with estimates ranging from $999.10 million to $1.18 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.07 billion per share, with estimates ranging from $971.50 million to $1.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover BankUnited.

BankUnited (NYSE:BKU) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.24. The firm had revenue of $285.37 million for the quarter, compared to the consensus estimate of $270.33 million. BankUnited had a return on equity of 11.30% and a net margin of 45.09%. During the same quarter in the prior year, the business posted $0.59 earnings per share.

Several research firms have issued reports on BKU. Zacks Investment Research downgraded BankUnited from a “buy” rating to a “hold” rating in a research report on Tuesday. Hovde Group downgraded BankUnited from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $45.00 to $44.00 in a research report on Wednesday, February 7th. ValuEngine upgraded BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays increased their target price on BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $41.00 target price on shares of BankUnited in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. BankUnited has an average rating of “Hold” and an average price target of $43.09.

In related news, Director Douglas J. Pauls sold 40,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total value of $1,684,800.00. Following the sale, the director now owns 31,380 shares in the company, valued at $1,321,725.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Bagnoli sold 1,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total value of $35,880.00. Following the completion of the sale, the insider now owns 19,699 shares in the company, valued at approximately $706,800.12. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. QS Investors LLC raised its position in shares of BankUnited by 9.6% in the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock worth $212,000 after buying an additional 550 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of BankUnited by 11.5% in the third quarter. Pacer Advisors Inc. now owns 16,183 shares of the financial services provider’s stock worth $576,000 after buying an additional 1,675 shares in the last quarter. Maltese Capital Management LLC raised its position in shares of BankUnited by 1.1% in the fourth quarter. Maltese Capital Management LLC now owns 155,000 shares of the financial services provider’s stock worth $6,312,000 after buying an additional 1,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BankUnited by 49.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 1,818 shares in the last quarter. Finally, Cambiar Investors LLC raised its position in BankUnited by 2.0% during the third quarter. Cambiar Investors LLC now owns 109,220 shares of the financial services provider’s stock valued at $3,885,000 after purchasing an additional 2,131 shares in the last quarter. Institutional investors own 96.43% of the company’s stock.

BankUnited (NYSE:BKU) traded up $0.17 during trading hours on Monday, hitting $40.80. The company’s stock had a trading volume of 60,401 shares, compared to its average volume of 964,232. The stock has a market capitalization of $4,264.31, a P/E ratio of 15.06, a P/E/G ratio of 1.44 and a beta of 1.01. BankUnited has a 12-month low of $30.37 and a 12-month high of $43.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86.

BankUnited announced that its Board of Directors has initiated a share buyback program on Tuesday, January 23rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. BankUnited’s dividend payout ratio (DPR) is presently 15.05%.

TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Expect BankUnited (BKU) Will Post Quarterly Sales of $265.14 Million” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://stocknewstimes.com/2018/02/22/zacks-brokerages-expect-bankunited-bku-will-post-quarterly-sales-of-265-14-million.html.

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.

Get a free copy of the Zacks research report on BankUnited (BKU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BankUnited (NYSE:BKU)

Receive News & Ratings for BankUnited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BankUnited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply