BankUnited (BKU) Expected to Announce Quarterly Sales of $219.03 Million

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Analysts predict that BankUnited (NYSE:BKU) will announce sales of $219.03 million for the current quarter, according to Zacks. Three analysts have made estimates for BankUnited’s earnings, with the highest sales estimate coming in at $220.24 million and the lowest estimate coming in at $216.86 million. BankUnited reported sales of $275.80 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.6%. The firm is scheduled to report its next quarterly earnings report before the market opens on Wednesday, April 24th.

According to Zacks, analysts expect that BankUnited will report full year sales of $906.53 million for the current year, with estimates ranging from $899.68 million to $918.92 million. For the next year, analysts forecast that the business will report sales of $955.32 million, with estimates ranging from $942.00 million to $975.79 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for BankUnited.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). The company had revenue of $328.38 million during the quarter, compared to analysts’ expectations of $314.33 million. BankUnited had a net margin of 20.31% and a return on equity of 10.84%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS.

Several equities analysts have weighed in on BKU shares. TheStreet downgraded shares of BankUnited from a “b-” rating to a “c+” rating in a report on Friday, December 21st. Zacks Investment Research downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Bank of America downgraded shares of BankUnited from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Thursday, January 10th. ValuEngine upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Stephens downgraded shares of BankUnited from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $39.75.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio raised its stake in shares of BankUnited by 19.1% during the fourth quarter. Strs Ohio now owns 784,821 shares of the financial services provider’s stock valued at $23,497,000 after purchasing an additional 125,975 shares during the period. HAP Trading LLC acquired a new position in shares of BankUnited during the fourth quarter valued at $890,000. Shoals Capital Management LP acquired a new position in shares of BankUnited during the fourth quarter valued at $12,725,000. Southside Capital LLC acquired a new position in shares of BankUnited during the fourth quarter valued at $4,046,000. Finally, CI Investments Inc. boosted its holdings in shares of BankUnited by 55.9% during the third quarter. CI Investments Inc. now owns 514,200 shares of the financial services provider’s stock valued at $18,203,000 after acquiring an additional 184,300 shares during the period. Institutional investors and hedge funds own 97.86% of the company’s stock.

Shares of BKU traded down $0.07 during trading hours on Friday, reaching $35.70. The company had a trading volume of 20,536 shares, compared to its average volume of 740,588. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $3.48 billion, a PE ratio of 15.10, a P/E/G ratio of 1.44 and a beta of 1.08. BankUnited has a 12-month low of $28.05 and a 12-month high of $44.97.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. BankUnited’s dividend payout ratio (DPR) is presently 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.

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Earnings History and Estimates for BankUnited (NYSE:BKU)

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