Equities research analysts expect that BankUnited (NYSE:BKU) will post $221.32 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for BankUnited’s earnings, with the highest sales estimate coming in at $224.23 million and the lowest estimate coming in at $219.00 million. BankUnited posted sales of $328.38 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 32.6%. The company is expected to announce its next earnings results on Wednesday, January 22nd.
According to Zacks, analysts expect that BankUnited will report full year sales of $895.58 million for the current financial year, with estimates ranging from $889.78 million to $900.53 million. For the next year, analysts expect that the business will report sales of $909.26 million, with estimates ranging from $893.00 million to $923.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for BankUnited.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.77 earnings per share 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 company had revenue of $223.55 million for the quarter, compared to analyst estimates of $224.93 million. During the same quarter last year, the firm posted $0.90 EPS.
BKU has been the topic of several research reports. downgraded shares of BankUnited from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research note on Friday, October 11th. DA Davidson initiated coverage on shares of BankUnited in a research note on Tuesday, October 22nd. They set a “buy” rating and a $39.00 price objective for the company. JPMorgan Chase & Co. raised shares of BankUnited from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $34.00 to $37.00 in a research note on Thursday, October 24th. Morgan Stanley increased their price objective on shares of BankUnited from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Stephens restated an “equal weight” rating and set a $35.00 target price on shares of BankUnited in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.25.
BankUnited stock opened at $36.96 on Friday. The company has a fifty day simple moving average of $35.30 and a 200-day simple moving average of $33.55. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.39 and a beta of 1.16. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. BankUnited has a 52-week low of $28.05 and a 52-week high of $37.60.
In other news, CEO Rajinder P. Singh sold 76,466 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $36.35, for a total transaction of $2,779,539.10. Following the transaction, the chief executive officer now owns 355,749 shares of the company’s stock, valued at approximately $12,931,476.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 20,731 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $35.16, for a total transaction of $728,901.96. Following the completion of the sale, the director now directly owns 55,179 shares of the company’s stock, valued at approximately $1,940,093.64. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of BKU. Millennium Management LLC grew its stake in shares of BankUnited by 833.8% in the 3rd quarter. Millennium Management LLC now owns 2,382,573 shares of the financial services provider’s stock valued at $80,102,000 after buying an additional 2,707,273 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of BankUnited during the 2nd quarter valued at approximately $27,798,000. Cramer Rosenthal Mcglynn LLC raised its position in shares of BankUnited by 23.5% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 2,389,195 shares of the financial services provider’s stock valued at $80,611,000 after buying an additional 453,993 shares during the period. Point72 Asset Management L.P. lifted its holdings in BankUnited by 65.2% in the second quarter. Point72 Asset Management L.P. now owns 877,007 shares of the financial services provider’s stock valued at $29,590,000 after acquiring an additional 346,207 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in BankUnited by 247.3% in the second quarter. Invesco Ltd. now owns 376,445 shares of the financial services provider’s stock valued at $12,701,000 after acquiring an additional 268,061 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.
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, savings accounts, and certificates of deposit; and treasury management services.
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