Wedbush Comments on BankUnited, Inc.’s Q2 2024 Earnings (NYSE:BKU)

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 forecasts that the financial services provider will post earnings of $0.60 per share for the quarter, down from their prior forecast 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 results on Wednesday, April 17th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. The company had revenue of $508.35 million during the quarter, compared to analyst estimates of $239.84 million. During the same period in the previous year, the company earned $0.70 earnings per share.

A number of other analysts have also recently issued reports on BKU. UBS Group cut BankUnited from a “neutral” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research report on Monday, January 8th. Wells Fargo & Company boosted their price objective on BankUnited from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Royal Bank of Canada lowered their price objective on BankUnited from $33.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price objective on BankUnited from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Finally, Barclays started coverage on BankUnited in a research report on Friday, March 8th. They issued an “equal weight” rating and a $29.00 price target on the stock. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, BankUnited has a consensus rating of “Hold” and an average target price of $30.50.

BankUnited Stock Up 3.3 %

Shares of BKU stock opened at $26.73 on Thursday. BankUnited has a 12 month low of $15.83 and a 12 month high of $34.22. The firm has a market cap of $2.00 billion, a PE ratio of 11.52 and a beta of 1.36. The stock has a 50 day moving average of $26.79 and a 200-day moving average of $26.99. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 1.48.

BankUnited Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Thursday, April 11th. This is a boost from BankUnited’s previous quarterly dividend of $0.27. BankUnited’s dividend payout ratio is presently 50.00%.

Insider Activity

In other news, insider Kevin A. Malcolm sold 2,285 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $27.18, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BankUnited

Several large investors have recently made changes to their positions in BKU. Advisor Group Holdings Inc. lifted its stake in BankUnited by 83.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,918 shares of the financial services provider’s stock valued at $99,000 after buying an additional 1,327 shares during the period. US Bancorp DE raised 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 purchasing an additional 2,762 shares during the period. Nisa Investment Advisors LLC raised its position in shares of BankUnited by 106.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,879 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 2,000 shares during the period. GAMMA Investing LLC acquired a new stake in shares of BankUnited during the fourth quarter worth about $147,000. Finally, Centiva Capital LP acquired a new stake in shares of BankUnited during the second quarter worth about $200,000. Institutional investors and hedge funds own 99.70% of the company’s stock.

BankUnited Company Profile

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.