Q2 2024 EPS Estimates for BankUnited, Inc. Lowered by Wedbush (NYSE:BKU)

BankUnited, Inc. (NYSE:BKU) – Wedbush lowered their Q2 2024 earnings estimates for BankUnited in a report issued on Wednesday, April 17th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $0.60 per share for the quarter, down from their previous 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 released its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.42). The business had revenue of $500.30 million for the quarter, compared to the consensus estimate of $244.11 million. BankUnited had a net margin of 9.19% and a return on equity of 8.38%. During the same quarter last year, the business earned $0.82 EPS.

Other equities analysts have also recently issued research reports about the company. Citigroup dropped their target price on BankUnited from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, January 29th. StockNews.com downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Wells Fargo & Company lifted their price target on shares of BankUnited from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of BankUnited from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Finally, Royal Bank of Canada dropped their target price on BankUnited from $33.00 to $29.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, BankUnited presently has a consensus rating of “Hold” and an average price target of $30.44.

BankUnited Trading Up 2.9 %

BKU opened at $25.18 on Thursday. The stock has a 50-day moving average of $26.79 and a 200 day moving average of $26.97. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.98. BankUnited has a 12 month low of $15.83 and a 12 month high of $34.22. The firm has a market cap of $1.88 billion, a P/E ratio of 10.58 and a beta of 1.36.

Institutional Investors Weigh In On BankUnited

Several hedge funds have recently modified their holdings of BKU. Norges Bank purchased a new stake in shares of BankUnited during the 4th quarter worth $31,064,000. State Street Corp boosted its stake in BankUnited by 13.8% in the 2nd quarter. State Street Corp now owns 5,465,511 shares of the financial services provider’s stock worth $117,782,000 after purchasing an additional 660,759 shares in the last quarter. Jennison Associates LLC increased its stake in BankUnited by 54.3% during the 4th quarter. Jennison Associates LLC now owns 1,459,268 shares of the financial services provider’s stock valued at $47,324,000 after purchasing an additional 513,342 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of BankUnited by 175.2% in the 1st quarter. Hsbc Holdings PLC now owns 540,367 shares of the financial services provider’s stock valued at $23,814,000 after acquiring an additional 343,997 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in BankUnited by 86.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 733,437 shares of the financial services provider’s stock worth $32,242,000 after buying an additional 340,604 shares during the period. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Insider Activity

In related news, insider Kevin A. Malcolm sold 2,285 shares of the company’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 completion of the sale, the insider now directly owns 11,750 shares of the company’s stock, valued at $319,365. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.19% of the company’s stock.

BankUnited Increases Dividend

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 given a dividend of $0.29 per share. This is an increase from BankUnited’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.61%. BankUnited’s dividend payout ratio is presently 48.74%.

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.