Wedbush Brokers Boost Earnings Estimates for BankUnited, Inc. (NYSE:BKU)

BankUnited, Inc. (NYSE:BKUGet Rating) – Equities researchers at Wedbush lifted their Q1 2023 EPS estimates for BankUnited in a report released on Friday, January 20th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $1.14 per share for the quarter, up from their prior estimate of $1.12. The consensus estimate for BankUnited’s current full-year earnings is $4.10 per share. Wedbush also issued estimates for BankUnited’s Q2 2023 earnings at $1.14 EPS, Q3 2023 earnings at $1.13 EPS, Q4 2023 earnings at $1.03 EPS and FY2024 earnings at $4.50 EPS.

A number of other analysts have also weighed in on BKU. Compass Point lowered their price objective on shares of BankUnited to $40.00 in a research note on Thursday, October 20th. Wells Fargo & Company lowered shares of BankUnited from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $45.00 to $38.00 in a research note on Thursday, December 15th. StockNews.com began coverage on shares of BankUnited in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BankUnited from $35.00 to $32.00 and set an “underweight” rating for the company in a research note on Tuesday, December 13th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.29.

BankUnited Stock Up 5.2 %

Shares of BKU opened at $35.15 on Monday. BankUnited has a 12-month low of $30.75 and a 12-month high of $45.86. The firm has a fifty day moving average price of $34.80 and a 200-day moving average price of $36.14. The firm has a market capitalization of $2.72 billion, a P/E ratio of 9.90 and a beta of 1.19. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

BankUnited (NYSE:BKUGet Rating) last issued its earnings results on Thursday, October 20th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. The firm had revenue of $258.91 million during the quarter, compared to analyst estimates of $260.05 million. BankUnited had a net margin of 21.78% and a return on equity of 11.08%. During the same period in the previous year, the firm earned $0.94 earnings per share.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.84%. BankUnited’s dividend payout ratio is presently 28.17%.

Insiders Place Their Bets

In other news, Director A. Gail Prudenti sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $37.26, for a total transaction of $167,670.00. Following the transaction, the director now owns 9,729 shares in the company, valued at $362,502.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BankUnited

Hedge funds have recently modified their holdings of the stock. Infini Capital Management Ltd acquired a new position in shares of BankUnited during the second quarter valued at about $71,000. Eagle Bay Advisors LLC boosted its position in BankUnited by 73.8% in the second quarter. Eagle Bay Advisors LLC now owns 2,496 shares of the financial services provider’s stock valued at $89,000 after buying an additional 1,060 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in BankUnited in the second quarter valued at approximately $128,000. US Bancorp DE boosted its position in BankUnited by 347.0% in the first quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock valued at $157,000 after buying an additional 2,762 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in BankUnited in the second quarter valued at approximately $200,000.

BankUnited Company Profile

(Get Rating)

BankUnited, Inc is a holding company, which engages in the provision of commercial and consumer banking services through its subsidiary, BankUnited, N.A.. Its services include corporate banking, commercial real estate, treasury management, business checking accounts, business online banking solutions, and home mortgages.

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