Wedbush Comments on BankUnited’s FY2019 Earnings (BKU)

BankUnited (NYSE:BKU) – Wedbush issued their FY2019 earnings per share estimates for BankUnited in a report issued on Thursday. Wedbush analyst D. Chiaverini forecasts that the financial services provider will post earnings of $2.99 per share for the year.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 price objective on shares of BankUnited in a report on Wednesday, December 13th. JPMorgan Chase & Co. downgraded BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, November 1st. BMO Capital Markets raised BankUnited from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. Barclays reaffirmed a “buy” rating and set a $42.00 price objective on shares of BankUnited in a report on Tuesday, December 5th. Finally, Deutsche Bank decreased their price objective on BankUnited from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.56.

Shares of BankUnited (NYSE BKU) opened at $40.66 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $4,348.66, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. BankUnited has a 1-year low of $30.37 and a 1-year high of $41.64.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $294.59 million for the quarter, compared to the consensus estimate of $273.51 million. BankUnited had a return on equity of 10.23% and a net margin of 19.82%. During the same period in the previous year, the business earned $0.47 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in BKU. Public Employees Retirement Association of Colorado boosted its holdings in shares of BankUnited by 4.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 128 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of BankUnited by 14.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 583,067 shares of the financial services provider’s stock worth $19,656,000 after acquiring an additional 72,616 shares in the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of BankUnited by 4.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 20,755 shares of the financial services provider’s stock worth $700,000 after acquiring an additional 960 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of BankUnited by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 65,776 shares of the financial services provider’s stock worth $2,217,000 after acquiring an additional 413 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of BankUnited by 22.4% in the 2nd quarter. Prudential Financial Inc. now owns 93,175 shares of the financial services provider’s stock worth $3,141,000 after acquiring an additional 17,063 shares in the last quarter. 95.26% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total value of $35,880.00. Following the transaction, the insider now directly owns 19,699 shares of the company’s stock, valued at approximately $706,800.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, January 11th. BankUnited’s payout ratio is currently 35.29%.

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BankUnited Company Profile

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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