Zacks: Analysts Expect BankUnited, Inc. (BKU) Will Post Quarterly Sales of $273.51 Million
Wall Street brokerages expect BankUnited, Inc. (NYSE:BKU) to report sales of $273.51 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for BankUnited’s earnings, with the lowest sales estimate coming in at $262.30 million and the highest estimate coming in at $282.94 million. BankUnited posted sales of $246.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.8%. The firm is expected to issue its next earnings results before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that BankUnited will report full-year sales of $273.51 million for the current fiscal year, with estimates ranging from $1.02 billion to $1.12 billion. For the next year, analysts forecast that the business will post sales of $1.14 billion per share, with estimates ranging from $1.08 billion to $1.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for BankUnited.
Several equities research analysts recently issued reports on BKU shares. Bank of America Corp reiterated a “buy” rating and issued a $46.00 price objective on shares of BankUnited in a report on Monday, July 10th. ValuEngine upgraded BankUnited from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $41.00 price objective on shares of BankUnited in a report on Thursday, September 28th. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price objective on shares of BankUnited in a report on Friday, July 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $39.00 price objective (down from $40.00) on shares of BankUnited in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.82.
In other news, insider Jeffrey Starr sold 7,445 shares of BankUnited stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $35.08, for a total transaction of $261,170.60. Following the sale, the insider now owns 29,000 shares of the company’s stock, valued at approximately $1,017,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman John Adam Kanas sold 78,190 shares of BankUnited stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $33.18, for a total transaction of $2,594,344.20. Following the sale, the chairman now directly owns 565,076 shares in the company, valued at approximately $18,749,221.68. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BKU. Karp Capital Management Corp purchased a new stake in shares of BankUnited during the 1st quarter valued at approximately $222,000. Prudential Financial Inc. purchased a new stake in shares of BankUnited during the 1st quarter valued at approximately $2,840,000. Principal Financial Group Inc. raised its position in shares of BankUnited by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock valued at $610,000 after buying an additional 258 shares during the period. Teachers Advisors LLC raised its position in shares of BankUnited by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 701,942 shares of the financial services provider’s stock valued at $26,189,000 after buying an additional 19,530 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of BankUnited by 12.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 250,413 shares of the financial services provider’s stock valued at $9,343,000 after buying an additional 26,937 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BankUnited (NYSE:BKU) traded down 1.61% during mid-day trading on Friday, reaching $34.85. The company had a trading volume of 2,432,957 shares. BankUnited has a one year low of $28.38 and a one year high of $41.00. The firm has a 50 day moving average of $34.49 and a 200-day moving average of $34.05. The stock has a market capitalization of $3.72 billion, a P/E ratio of 15.59 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, October 13th. BankUnited’s dividend payout ratio (DPR) is 37.67%.
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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