BankUnited, Inc. (NYSE:BKU) Expected to Post Q2 2024 Earnings of $0.60 Per Share

BankUnited, Inc. (NYSE:BKU - Free Report) - Analysts at Wedbush reduced their Q2 2024 earnings per share estimates for BankUnited in a report released on Wednesday, April 17th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.60 per share for the quarter, down from their prior forecast of $0.63. Wedbush has a "Neutral" rating and a $31.00 price target 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 analysts have also recently commented on BKU. Keefe, Bruyette & Woods cut their price target on shares of BankUnited from $33.00 to $31.00 and set a "market perform" rating on the stock in a research report on Thursday. Citigroup cut their price target on shares of BankUnited from $34.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, January 29th. UBS Group cut shares of 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. StockNews.com cut shares of BankUnited from a "hold" rating to a "sell" rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada cut their price objective on shares of BankUnited from $33.00 to $29.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, BankUnited currently has a consensus rating of "Hold" and an average price target of $30.50.

BankUnited Trading Up 2.8 %

BKU traded up $0.70 during trading on Thursday, reaching $25.89. 1,228,470 shares of the stock traded hands, compared to its average volume of 902,028. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $1.94 billion, a PE ratio of 10.88 and a beta of 1.36. The stock's 50-day moving average is $26.79 and its 200 day moving average is $26.96. BankUnited has a 12 month low of $15.83 and a 12 month high of $34.22.

BankUnited (NYSE:BKU - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $239.84 million. BankUnited had a return on equity of 8.38% and a net margin of 9.19%. During the same period in the prior year, the business posted $0.70 earnings per share.

Institutional Investors Weigh In On BankUnited

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in BankUnited by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 48,210 shares of the financial services provider's stock valued at $1,039,000 after buying an additional 512 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of BankUnited by 2.9% during 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 during the last quarter. Captrust Financial Advisors increased its stake in shares of BankUnited by 13.9% during the 3rd quarter. Captrust Financial Advisors now owns 6,355 shares of the financial services provider's stock worth $217,000 after purchasing an additional 775 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of BankUnited by 9.5% during the 4th quarter. Engineers Gate Manager LP now owns 11,891 shares of the financial services provider's stock worth $404,000 after purchasing an additional 1,029 shares during the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of BankUnited by 2.8% during the 3rd quarter. Natixis Advisors L.P. now owns 40,891 shares of the financial services provider's stock worth $928,000 after purchasing an additional 1,125 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company's stock.

Insider Activity at BankUnited

In related news, insider Kevin A. Malcolm sold 2,285 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $319,365. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.19% of the stock is owned by insiders.

BankUnited Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be given a $0.29 dividend. This is a boost from BankUnited's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.16 annualized dividend and a yield of 4.48%. BankUnited's dividend payout ratio (DPR) is presently 48.74%.

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.