BankUnited (NYSE:BKU) Expected to Announce Quarterly Sales of $224.65 Million

Equities research analysts expect BankUnited (NYSE:BKU) to report sales of $224.65 million for the current quarter, Zacks reports. Four analysts have made estimates for BankUnited’s earnings. The lowest sales estimate is $222.00 million and the highest is $227.55 million. BankUnited reported sales of $287.24 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.8%. The business is expected to issue its next earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that BankUnited will report full-year sales of $911.41 million for the current year, with estimates ranging from $905.00 million to $916.83 million. For the next fiscal year, analysts forecast that the company will report sales of $957.90 million, with estimates ranging from $947.00 million to $970.47 million. Zacks’ sales averages are an average based on a survey of analysts that follow BankUnited.

BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $227.16 million for the quarter, compared to analyst estimates of $219.03 million. BankUnited had a return on equity of 10.30% and a net margin of 19.06%. During the same period in the prior year, the company earned $0.77 earnings per share.

BKU has been the topic of a number of research reports. Sandler O’Neill lowered BankUnited from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine lowered BankUnited from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Stephens lowered BankUnited from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Zacks Investment Research lowered BankUnited from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, Barclays lowered BankUnited from an “overweight” rating to an “underweight” rating and raised their target price for the stock from $35.75 to $37.00 in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. BankUnited presently has an average rating of “Hold” and an average target price of $38.67.

A number of institutional investors have recently bought and sold shares of the stock. Pearl River Capital LLC acquired a new stake in BankUnited in the first quarter valued at approximately $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in BankUnited in the first quarter valued at approximately $34,000. Marshall Wace North America L.P. acquired a new stake in BankUnited in the first quarter valued at approximately $47,000. Toronto Dominion Bank acquired a new stake in BankUnited in the fourth quarter valued at approximately $75,000. Finally, Rockefeller Capital Management L.P. grew its holdings in BankUnited by 603.6% in the first quarter. Rockefeller Capital Management L.P. now owns 3,870 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 3,320 shares during the period. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BKU stock opened at $32.91 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $3.24 billion, a PE ratio of 13.94, a PEG ratio of 1.32 and a beta of 1.16. BankUnited has a fifty-two week low of $28.05 and a fifty-two week high of $44.35.

About BankUnited

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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