$220.82 Million in Sales Expected for BankUnited (NYSE:BKU) This Quarter

Analysts expect BankUnited (NYSE:BKU) to post sales of $220.82 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for BankUnited’s earnings, with estimates ranging from $217.00 million to $224.23 million. BankUnited reported sales of $328.38 million in the same quarter last year, which would suggest a negative year over year growth rate of 32.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, January 23rd.

According to Zacks, analysts expect that BankUnited will report full-year sales of $895.08 million for the current financial year, with estimates ranging from $889.78 million to $900.53 million. For the next financial year, analysts forecast that the firm will report sales of $908.76 million, with estimates ranging from $891.00 million to $923.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover BankUnited.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. BankUnited had a net margin of 18.04% and a return on equity of 9.76%. The company had revenue of $223.55 million during the quarter, compared to the consensus estimate of $224.93 million. During the same period in the previous year, the firm posted $0.90 EPS.

A number of analysts have recently issued reports on BKU shares. Royal Bank of Canada started coverage on shares of BankUnited in a report on Tuesday, December 10th. They set an “outperform” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. raised shares of BankUnited from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $34.00 to $37.00 in a report on Thursday, October 24th. Zacks Investment Research downgraded shares of BankUnited from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a report on Friday, October 11th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of BankUnited in a report on Tuesday, October 15th. Finally, Morgan Stanley lifted their price objective on shares of BankUnited from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. BankUnited presently has an average rating of “Hold” and an average target price of $37.71.

In other BankUnited news, CEO Rajinder P. Singh sold 76,466 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $36.35, for a total value of $2,779,539.10. Following the completion of the sale, the chief executive officer now directly owns 355,749 shares of the company’s stock, valued at $12,931,476.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas J. Pauls sold 20,731 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was 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 $1,940,093.64. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. purchased a new stake in BankUnited in the first quarter worth about $47,000. Toronto Dominion Bank grew its stake in shares of BankUnited by 21.5% in the 2nd quarter. Toronto Dominion Bank now owns 2,579 shares of the financial services provider’s stock worth $91,000 after buying an additional 457 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of BankUnited in the 3rd quarter worth $158,000. Canada Pension Plan Investment Board purchased a new position in shares of BankUnited in the 2nd quarter worth $174,000. Finally, SG Americas Securities LLC purchased a new position in shares of BankUnited in the 3rd quarter worth $230,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE BKU traded down $0.54 during mid-day trading on Friday, reaching $34.57. 356,230 shares of the company were exchanged, compared to its average volume of 492,712. BankUnited has a 52 week low of $30.32 and a 52 week high of $37.60. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $3.33 billion, a PE ratio of 14.65, a PEG ratio of 1.32 and a beta of 1.15. The company’s 50 day moving average price is $35.95 and its 200 day moving average price is $33.92.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Monday, January 13th. BankUnited’s dividend payout ratio is currently 35.59%.

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.

Featured Article: What is the Current Ratio?

Get a free copy of the Zacks research report on BankUnited (BKU)

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.