Zacks Research Weighs in on BankUnited, Inc.’s Q2 2024 Earnings (NYSE:BKU)

BankUnited, Inc. (NYSE:BKU) – Equities research analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for shares of BankUnited in a research note issued to investors on Wednesday, May 8th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $0.63 per share for the quarter, down from their previous forecast of $0.64. The consensus estimate for BankUnited’s current full-year earnings is $2.73 per share. Zacks Research also issued estimates for BankUnited’s Q3 2024 earnings at $0.70 EPS, Q2 2025 earnings at $0.74 EPS, Q1 2026 earnings at $0.69 EPS and FY2026 earnings at $3.05 EPS.

Other equities research analysts also recently issued reports about the company. Citigroup cut their target price on BankUnited from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. Keefe, Bruyette & Woods cut their price objective on BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Barclays began coverage on BankUnited in a report on Friday, March 8th. They set an “equal weight” rating and a $29.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of BankUnited from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Finally, Wedbush lowered their price objective on shares of BankUnited from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.50.

BankUnited Stock Up 0.6 %

BKU stock opened at $29.10 on Friday. The firm’s 50-day moving average is $27.15 and its two-hundred day moving average is $27.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 12.54 and a beta of 1.34. BankUnited has a 52 week low of $15.83 and a 52 week high of $34.22.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $508.35 million for the quarter, compared to analysts’ expectations of $239.84 million. BankUnited had a net margin of 8.71% and a return on equity of 8.06%. During the same period in the previous year, the business earned $0.70 earnings per share.

Hedge Funds Weigh In On BankUnited

A number of large investors have recently made changes to their positions in the business. Jennison Associates LLC grew its position in BankUnited by 54.3% during the fourth 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. Assenagon Asset Management S.A. grew its holdings in shares of BankUnited by 422.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 584,573 shares of the financial services provider’s stock valued at $16,368,000 after acquiring an additional 472,694 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of BankUnited by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock valued at $298,442,000 after acquiring an additional 332,567 shares in the last quarter. FMR LLC increased its stake in shares of BankUnited by 23.2% in the third quarter. FMR LLC now owns 1,539,176 shares of the financial services provider’s stock worth $34,939,000 after acquiring an additional 290,232 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of BankUnited by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,596,577 shares of the financial services provider’s stock worth $116,639,000 after acquiring an additional 251,281 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

Insider Activity

In other news, insider Kevin A. Malcolm sold 2,285 shares of the stock in a transaction on Tuesday, March 5th. The stock was 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 owns 11,750 shares in the company, valued at $319,365. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.19% of the stock is owned by company insiders.

BankUnited Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th were given a $0.29 dividend. This is an increase from BankUnited’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, April 11th. BankUnited’s dividend payout ratio (DPR) is 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.