BankUnited, Inc. (NYSE:BKU) Expected to Post Quarterly Sales of $243.25 Million

Wall Street brokerages forecast that BankUnited, Inc. (NYSE:BKUGet Rating) will announce sales of $243.25 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for BankUnited’s earnings. The highest sales estimate is $245.50 million and the lowest is $241.00 million. BankUnited reported sales of $231.07 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that BankUnited will report full year sales of $992.85 million for the current fiscal year, with estimates ranging from $967.21 million to $1.01 billion. For the next year, analysts expect that the company will report sales of $1.09 billion, with estimates ranging from $1.03 billion to $1.15 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow BankUnited.

BankUnited (NYSE:BKUGet Rating) last released its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). BankUnited had a net margin of 35.89% and a return on equity of 12.61%. During the same quarter in the prior year, the company posted $1.06 EPS.

Several brokerages have recently weighed in on BKU. Keefe, Bruyette & Woods upgraded shares of BankUnited from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, January 21st. JPMorgan Chase & Co. downgraded shares of BankUnited from an “overweight” rating to a “neutral” rating and set a $50.00 price target for the company. in a research note on Friday, April 1st. The Goldman Sachs Group upped their target price on shares of BankUnited from $42.50 to $48.00 and gave the company a “sell” rating in a research note on Monday, April 4th. Finally, StockNews.com started coverage on shares of BankUnited in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BankUnited currently has an average rating of “Hold” and a consensus target price of $49.78.

NYSE:BKU opened at $40.68 on Monday. The firm’s 50-day moving average is $42.86 and its 200-day moving average is $42.63. BankUnited has a 52-week low of $37.08 and a 52-week high of $49.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.79 and a current ratio of 0.81. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 9.57 and a beta of 1.22.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Thursday, April 14th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. This is a positive change from BankUnited’s previous quarterly dividend of $0.23. BankUnited’s payout ratio is currently 23.53%.

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new stake in BankUnited during the first quarter valued at about $47,000. Morgan Stanley boosted its holdings in BankUnited by 49.0% in the second quarter. Morgan Stanley now owns 517,081 shares of the financial services provider’s stock valued at $22,074,000 after acquiring an additional 169,948 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in BankUnited by 22.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 65,396 shares of the financial services provider’s stock valued at $2,735,000 after acquiring an additional 11,835 shares in the last quarter. Swiss National Bank boosted its holdings in shares of BankUnited by 0.5% during the 3rd quarter. Swiss National Bank now owns 206,100 shares of the financial services provider’s stock valued at $8,619,000 after buying an additional 1,000 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of BankUnited during the 3rd quarter valued at $228,000. Institutional investors and hedge funds own 97.85% of the company’s stock.

BankUnited Company Profile (Get Rating)

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.

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