BankUnited, Inc. (NYSE:BKU) Expected to Post Q2 2024 Earnings of $0.60 Per Share

BankUnited, Inc. (NYSE:BKU) – Wedbush decreased their Q2 2024 earnings per share estimates for BankUnited in a report released on Wednesday, April 17th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.60 for the quarter, down from their prior estimate of $0.63. Wedbush currently has a “Neutral” rating and a $31.00 target price on the stock. The consensus estimate for BankUnited’s current full-year earnings is $2.65 per share. Wedbush also issued estimates for BankUnited’s Q3 2024 earnings at $0.64 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.73 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.73 EPS and FY2025 earnings at $2.95 EPS.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. BankUnited had a net margin of 9.19% and a return on equity of 8.38%. The company had revenue of $508.35 million during the quarter, compared to the consensus estimate of $239.84 million. During the same quarter last year, the company earned $0.70 earnings per share.

Several other analysts also recently weighed in on the company. StockNews.com downgraded BankUnited from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods lowered their price objective on BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a research note on Thursday. Citigroup cut their target price on BankUnited from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. JPMorgan Chase & Co. reduced their target price on BankUnited from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. Finally, Barclays initiated coverage on shares of BankUnited in a research note on Friday, March 8th. They issued an “equal weight” rating and a $29.00 price target for the company. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, BankUnited has a consensus rating of “Hold” and an average target price of $30.50.

BankUnited Price Performance

BKU opened at $25.89 on Thursday. BankUnited has a twelve month low of $15.83 and a twelve month high of $34.22. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 10.88 and a beta of 1.36. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.98. The company has a fifty day simple moving average of $26.79 and a 200 day simple moving average of $26.96.

BankUnited Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th will be given a $0.29 dividend. This is an increase from BankUnited’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, April 11th. BankUnited’s dividend payout ratio (DPR) is presently 48.74%.

Insider Activity at BankUnited

In other BankUnited news, insider Kevin A. Malcolm sold 2,285 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $27.18, for a total value of $62,106.30. Following the transaction, the insider now owns 11,750 shares of the company’s stock, valued at $319,365. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Several large investors have recently added to or reduced their stakes in BKU. Advisor Group Holdings Inc. increased its holdings in shares of BankUnited by 83.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,918 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 1,327 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of BankUnited by 106.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,879 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 2,000 shares during the period. GAMMA Investing LLC bought a new stake in shares of BankUnited during the fourth quarter valued at approximately $147,000. US Bancorp DE boosted its position in shares of BankUnited by 347.0% during the first quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock worth $157,000 after buying an additional 2,762 shares during the period. Finally, Centiva Capital LP bought a new position in BankUnited in the 2nd quarter worth approximately $200,000. 99.70% of the stock is owned by institutional investors and hedge funds.

About BankUnited

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.