FY2024 Earnings Estimate for BankUnited, Inc. Issued By Wedbush (NYSE:BKU)

BankUnited, Inc. (NYSE:BKU) – Analysts at Wedbush lowered their FY2024 earnings estimates for BankUnited in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $2.87 per share for the year, down from their previous forecast of $2.89. Wedbush has a “Neutral” rating and a $40.00 price objective on the stock. The consensus estimate for BankUnited’s current full-year earnings is $2.88 per share. Wedbush also issued estimates for BankUnited’s Q4 2024 earnings at $0.76 EPS and Q1 2025 earnings at $0.74 EPS.

BankUnited (NYSE:BKU) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on BankUnited from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Hovde Group raised their price target on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their price target on BankUnited from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 9th. Citigroup lowered their price target on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Barclays raised their price target on BankUnited from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.10.

BankUnited Trading Up 1.2 %

BankUnited stock opened at $35.71 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 15.39 and a beta of 1.33. BankUnited has a one year low of $20.84 and a one year high of $39.51. The company’s fifty day moving average price is $36.65 and its two-hundred day moving average price is $31.15.

Institutional Investors Weigh In On BankUnited

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in shares of BankUnited by 49.2% during the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after purchasing an additional 740,896 shares during the last quarter. Bank of Montreal Can increased its position in BankUnited by 3,901.0% in the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock valued at $16,803,000 after acquiring an additional 559,720 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of BankUnited by 741.7% in the second quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock worth $11,628,000 after acquiring an additional 350,071 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BankUnited by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock worth $298,442,000 after purchasing an additional 332,567 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of BankUnited by 3,658.4% during the second quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock valued at $9,537,000 after purchasing an additional 317,143 shares during the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the transaction, the insider now owns 37,187 shares in the company, valued at $1,361,416.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the transaction, the insider now owns 37,187 shares in the company, valued at $1,361,416.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William S. Rubenstein sold 7,864 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total transaction of $303,314.48. Following the transaction, the director now owns 10,282 shares of the company’s stock, valued at approximately $396,576.74. The disclosure for this sale can be found here. Insiders sold a total of 21,507 shares of company stock worth $802,400 over the last quarter. Company insiders own 1.19% of the company’s stock.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, October 11th. BankUnited’s payout ratio is presently 50.00%.

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.