BankUnited Inc. (BKU) to Release Quarterly Earnings on Thursday
BankUnited Inc. (NYSE:BKU) is scheduled to be releasing its Q316 earnings data on Thursday, October 20th. Analysts expect BankUnited to post earnings of $0.53 per share and revenue of $248.57 million for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. BankUnited had a net margin of 24.42% and a return on equity of 9.80%. During the same quarter in the prior year, the business earned $0.43 EPS. On average, analysts expect BankUnited to post $2.10 EPS for the current fiscal year and $2.41 EPS for the next fiscal year.
Shares of BankUnited Inc. (NYSE:BKU) opened at 28.67 on Tuesday. The stock has a market cap of $2.99 billion, a P/E ratio of 11.45 and a beta of 0.83. BankUnited Inc. has a 1-year low of $27.85 and a 1-year high of $39.97. The company’s 50-day moving average is $30.58 and its 200-day moving average is $31.80.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, October 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.93%. BankUnited’s payout ratio is 33.60%.
In other news, insider Mark Bagnoli sold 2,000 shares of BankUnited stock in a transaction on Friday, July 29th. The stock was sold at an average price of $30.11, for a total transaction of $60,220.00. Following the transaction, the insider now owns 17,458 shares in the company, valued at approximately $525,660.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Starr sold 5,000 shares of BankUnited stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.20, for a total value of $156,000.00. Following the transaction, the insider now owns 34,000 shares in the company, valued at approximately $1,060,800. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Analytic Investors LLC raised its position in BankUnited by 13.7% in the second quarter. Analytic Investors LLC now owns 181,413 shares of the financial services provider’s stock valued at $5,573,000 after buying an additional 21,928 shares in the last quarter. BlueMountain Capital Management LLC raised its position in BankUnited by 41.3% in the second quarter. BlueMountain Capital Management LLC now owns 10,185 shares of the financial services provider’s stock valued at $313,000 after buying an additional 2,978 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in BankUnited during the second quarter valued at approximately $323,000. Fifth Third Bancorp raised its position in BankUnited by 11.3% in the second quarter. Fifth Third Bancorp now owns 17,457 shares of the financial services provider’s stock valued at $536,000 after buying an additional 1,767 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in BankUnited by 7.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,736 shares of the financial services provider’s stock valued at $243,000 after buying an additional 494 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.
BKU has been the topic of a number of analyst reports. Hovde Group cut shares of BankUnited from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $30.00 to $28.00 in a research note on Thursday, September 1st. Bank of America Corp. reaffirmed a “buy” rating and set a $38.00 price objective on shares of BankUnited in a research note on Monday, June 20th. Sandler O’Neill raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, June 29th. RBC Capital Markets reaffirmed an “outperform” rating and set a $37.00 price objective (down previously from $39.00) on shares of BankUnited in a research note on Friday, July 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $35.00 price objective on shares of BankUnited in a research note on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $35.63.
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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