Brokerages Anticipate BankUnited (BKU) Will Post Quarterly Sales of $298.18 Million

Equities research analysts expect BankUnited (NYSE:BKU) to report $298.18 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for BankUnited’s earnings, with the lowest sales estimate coming in at $287.47 million and the highest estimate coming in at $315.00 million. BankUnited posted sales of $285.37 million in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, January 22nd.

On average, analysts expect that BankUnited will report full year sales of $1.15 billion for the current year, with estimates ranging from $1.13 billion to $1.17 billion. For the next year, analysts anticipate that the business will report sales of $979.67 million, with estimates ranging from $912.00 million to $1.04 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow BankUnited.

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 11.89%. The firm had revenue of $290.70 million for the quarter, compared to analysts’ expectations of $292.57 million. During the same period in the previous year, the firm posted $0.62 EPS.

Several brokerages have commented on BKU. Zacks Investment Research raised shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. BMO Capital Markets dropped their target price on shares of BankUnited from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $39.00 target price on shares of BankUnited in a report on Thursday, November 15th. Morgan Stanley cut shares of BankUnited from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $46.00 to $42.00 in a report on Tuesday, September 18th. Finally, Barclays dropped their target price on shares of BankUnited from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. BankUnited presently has an average rating of “Hold” and a consensus target price of $42.91.

In other news, insider Mark Bagnoli sold 1,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $31.82, for a total value of $31,820.00. Following the sale, the insider now directly owns 24,118 shares of the company’s stock, valued at approximately $767,434.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in BankUnited by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,629,463 shares of the financial services provider’s stock valued at $376,283,000 after acquiring an additional 174,690 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in BankUnited by 8.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,640,024 shares of the financial services provider’s stock valued at $235,057,000 after acquiring an additional 540,065 shares during the period. Millennium Management LLC raised its holdings in BankUnited by 31.8% in the 2nd quarter. Millennium Management LLC now owns 3,703,524 shares of the financial services provider’s stock valued at $151,289,000 after acquiring an additional 893,857 shares during the period. Jennison Associates LLC raised its holdings in BankUnited by 1.0% in the 2nd quarter. Jennison Associates LLC now owns 3,415,826 shares of the financial services provider’s stock valued at $139,536,000 after acquiring an additional 32,205 shares during the period. Finally, FMR LLC raised its holdings in BankUnited by 1.0% in the 2nd quarter. FMR LLC now owns 3,043,731 shares of the financial services provider’s stock valued at $124,336,000 after acquiring an additional 28,720 shares during the period. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BKU traded down $1.98 on Tuesday, hitting $31.91. 1,054,874 shares of the company’s stock were exchanged, compared to its average volume of 927,786. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.97 and a quick ratio of 0.96. BankUnited has a 52 week low of $29.86 and a 52 week high of $44.97. The stock has a market capitalization of $3.56 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97.

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.

Further Reading: Dividend Aristocrat Index

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