Brokerages Anticipate BankUnited (BKU) Will Announce Earnings of $0.86 Per Share

Wall Street brokerages expect BankUnited (NYSE:BKU) to report earnings per share of $0.86 for the current quarter, according to Zacks. Three analysts have made estimates for BankUnited’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.83. BankUnited posted earnings of $0.62 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.7%. The business is expected to announce its next earnings report before the market opens on Wednesday, October 24th.

On average, analysts expect that BankUnited will report full year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.40. For the next year, analysts expect that the firm will report earnings of $3.23 per share, with EPS estimates ranging from $3.03 to $3.38. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow BankUnited.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The firm had revenue of $287.24 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.60 earnings per share.

Several analysts have weighed in on the stock. Barclays decreased their price objective on shares of BankUnited from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 3rd. ValuEngine cut shares of BankUnited from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Morgan Stanley cut shares of BankUnited from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $46.00 to $42.00 in a research note on Tuesday, September 18th. Finally, Sandler O’Neill set a $47.00 price objective on shares of BankUnited and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. BankUnited currently has a consensus rating of “Hold” and a consensus price target of $43.30.

In other news, COO Thomas M. Cornish sold 10,000 shares of the company’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in BKU. Northern Trust Corp lifted its position in shares of BankUnited by 1.5% during the first quarter. Northern Trust Corp now owns 493,357 shares of the financial services provider’s stock worth $19,724,000 after purchasing an additional 7,195 shares in the last quarter. BlackRock Inc. lifted its position in shares of BankUnited by 1.4% during the first quarter. BlackRock Inc. now owns 4,703,414 shares of the financial services provider’s stock worth $188,042,000 after purchasing an additional 63,224 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of BankUnited by 82,152.6% during the first quarter. Federated Investors Inc. PA now owns 31,256 shares of the financial services provider’s stock worth $1,250,000 after purchasing an additional 31,218 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of BankUnited by 3.5% during the first quarter. New York State Common Retirement Fund now owns 301,021 shares of the financial services provider’s stock worth $12,035,000 after purchasing an additional 10,172 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of BankUnited by 23.7% during the first quarter. Hsbc Holdings PLC now owns 36,895 shares of the financial services provider’s stock worth $1,476,000 after purchasing an additional 7,064 shares in the last quarter. Institutional investors own 94.71% of the company’s stock.

Shares of BankUnited stock opened at $35.45 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.64. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.20 and a beta of 0.95. BankUnited has a 1-year low of $32.34 and a 1-year high of $44.97.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.37%. BankUnited’s payout ratio is 31.70%.

BankUnited Company Profile

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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