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

BankUnited, Inc. (NYSE:BKU) – Investment analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for shares of BankUnited in a report issued on Wednesday, April 17th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.60 for the quarter, down from their previous forecast of $0.63. Wedbush has a “Neutral” rating and a $31.00 price objective 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.

A number of other research analysts also recently commented on BKU. Wells Fargo & Company boosted their price target on BankUnited from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Barclays began coverage on shares of BankUnited in a research report on Friday, March 8th. They set an “equal weight” rating and a $29.00 price target on the stock. StockNews.com downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. decreased their price target on BankUnited from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, April 4th. Finally, UBS Group lowered BankUnited from a “neutral” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.50.

BankUnited Price Performance

Shares of NYSE BKU opened at $25.89 on Thursday. The business has a fifty day moving average price of $26.79 and a two-hundred day moving average price of $26.96. The stock has a market capitalization of $1.94 billion, a PE ratio of 10.88 and a beta of 1.36. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.92 and a quick ratio of 0.92. BankUnited has a fifty-two week low of $15.83 and a fifty-two week high of $34.22.

BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $508.35 million for the quarter, compared to analyst estimates of $239.84 million. BankUnited had a net margin of 9.19% and a return on equity of 8.38%. During the same quarter in the prior year, the business posted $0.70 EPS.

Hedge Funds Weigh In On BankUnited

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its holdings in BankUnited by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 48,210 shares of the financial services provider’s stock worth $1,039,000 after acquiring an additional 512 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of BankUnited by 2.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 18,775 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 533 shares in the last quarter. Captrust Financial Advisors grew its position in BankUnited by 13.9% in the 3rd quarter. Captrust Financial Advisors now owns 6,355 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 775 shares during the period. Engineers Gate Manager LP grew its position in BankUnited by 9.5% in the 4th quarter. Engineers Gate Manager LP now owns 11,891 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 1,029 shares during the period. Finally, Natixis Advisors L.P. increased its stake in BankUnited by 2.8% during the 3rd quarter. Natixis Advisors L.P. now owns 40,891 shares of the financial services provider’s stock valued at $928,000 after purchasing an additional 1,125 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kevin A. Malcolm sold 2,285 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $319,365. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.19% of the company’s stock.

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 paid a dividend of $0.29 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.16 annualized dividend and a dividend yield of 4.48%. This is an increase from BankUnited’s previous quarterly dividend of $0.27. BankUnited’s dividend payout ratio (DPR) 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.