Q4 2018 EPS Estimates for BankUnited (BKU) Cut by Analyst

BankUnited (NYSE:BKU) – Equities researchers at Wedbush dropped their Q4 2018 earnings per share estimates for BankUnited in a report released on Monday, November 5th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $0.44 for the quarter, down from their prior estimate of $0.75. Wedbush also issued estimates for BankUnited’s Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.69 EPS, FY2019 earnings at $2.28 EPS and FY2020 earnings at $2.80 EPS.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. BankUnited had a net margin of 46.00% and a return on equity of 11.91%. The business had revenue of $290.70 million for the quarter, compared to analysts’ expectations of $292.57 million. During the same quarter last year, the company posted $0.62 earnings per share.

Several other brokerages have also recently commented on BKU. Morgan Stanley cut shares of BankUnited from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $46.00 to $42.00 in a research report on Tuesday, September 18th. Zacks Investment Research raised shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Barclays reduced their price target on shares of BankUnited from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 3rd. Sandler O’Neill set a $47.00 price target on shares of BankUnited and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Stephens set a $40.00 price target on shares of BankUnited and gave the stock a “buy” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.83.

Shares of BKU stock opened at $34.16 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.64. BankUnited has a one year low of $29.86 and a one year high of $44.97. The stock has a market cap of $3.51 billion, a PE ratio of 12.89, a P/E/G ratio of 1.17 and a beta of 0.97.

A number of hedge funds and other institutional investors have recently modified their holdings of BKU. Commonwealth Bank of Australia acquired a new stake in shares of BankUnited in the third quarter valued at approximately $290,000. MML Investors Services LLC acquired a new stake in shares of BankUnited in the third quarter valued at approximately $240,000. JPMorgan Chase & Co. increased its stake 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 valued at $106,736,000 after purchasing an additional 261,289 shares during the period. LSV Asset Management increased its stake in shares of BankUnited by 0.9% in the third quarter. LSV Asset Management now owns 2,023,200 shares of the financial services provider’s stock valued at $71,621,000 after purchasing an additional 17,600 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of BankUnited in the third quarter valued at approximately $1,281,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

In other BankUnited news, COO Thomas M. Cornish sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $40.02, for a total value of $400,200.00. Following the transaction, the chief operating officer now owns 90,249 shares of the company’s stock, valued at $3,611,764.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $31.82, for a total transaction of $31,820.00. Following the completion of the transaction, the insider now directly owns 24,118 shares in the company, valued at approximately $767,434.76. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 2.46%. BankUnited’s dividend payout ratio is currently 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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Earnings History and Estimates for BankUnited (NYSE:BKU)

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