Wall Street brokerages expect that BankUnited (NYSE:BKU) will announce $219.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for BankUnited’s earnings, with the highest sales estimate coming in at $220.24 million and the lowest estimate coming in at $216.86 million. BankUnited posted sales of $275.80 million in the same quarter last year, which suggests a negative year over year growth rate of 20.6%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, April 24th.
On average, analysts expect that BankUnited will report full year sales of $906.53 million for the current financial year, with estimates ranging from $899.68 million to $918.92 million. For the next fiscal year, analysts expect that the firm will report sales of $955.32 million, with estimates ranging from $942.00 million to $975.79 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for BankUnited.
BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, January 23rd. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $328.38 million for the quarter, compared to analysts’ expectations of $314.33 million. BankUnited had a net margin of 20.31% and a return on equity of 10.84%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share.
Several equities research analysts recently weighed in on BKU shares. Zacks Investment Research cut BankUnited from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Bank of America cut BankUnited from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Thursday, January 10th. ValuEngine upgraded BankUnited from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Stephens cut BankUnited from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Finally, TheStreet cut BankUnited from a “b-” rating to a “c+” rating in a report on Friday, December 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.75.
BKU stock traded down $0.07 during trading on Friday, hitting $35.70. 20,536 shares of the company traded hands, compared to its average volume of 740,588. The stock has a market capitalization of $3.48 billion, a PE ratio of 15.10, a P/E/G ratio of 1.44 and a beta of 1.08. BankUnited has a 1 year low of $28.05 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.93 and a quick ratio of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.35%. BankUnited’s payout ratio is currently 35.59%.
Several institutional investors have recently bought and sold shares of BKU. JPMorgan Chase & Co. increased its holdings in shares of BankUnited by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 3,015,141 shares of the financial services provider’s stock worth $106,736,000 after purchasing an additional 261,289 shares during the last quarter. Janus Henderson Group PLC raised its position in BankUnited by 84.7% during the third quarter. Janus Henderson Group PLC now owns 44,700 shares of the financial services provider’s stock valued at $1,582,000 after acquiring an additional 20,500 shares in the last quarter. Bank of New York Mellon Corp raised its position in BankUnited by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 572,414 shares of the financial services provider’s stock valued at $20,263,000 after acquiring an additional 8,917 shares in the last quarter. CI Investments Inc. raised its position in BankUnited by 55.9% during the third quarter. CI Investments Inc. now owns 514,200 shares of the financial services provider’s stock valued at $18,203,000 after acquiring an additional 184,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in BankUnited by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,820,169 shares of the financial services provider’s stock valued at $64,434,000 after acquiring an additional 217,083 shares in the last quarter. Institutional investors own 97.86% of the company’s stock.
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, savings accounts, and certificates of deposit; and treasury management services.
Recommended Story: Price-Sales Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.