Research Analysts Offer Predictions for BankUnited, Inc.’s Q3 2024 Earnings (NYSE:BKU)

BankUnited, Inc. (NYSE:BKU) – Zacks Research raised their Q3 2024 earnings estimates for shares of BankUnited in a report issued on Tuesday, August 27th. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $0.73 per share for the quarter, up from their prior estimate of $0.72. The consensus estimate for BankUnited’s current full-year earnings is $2.86 per share. Zacks Research also issued estimates for BankUnited’s FY2024 earnings at $2.85 EPS.

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

A number of other equities analysts also recently issued reports on BKU. Hovde Group upped their price target on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Wedbush increased their target price on shares of BankUnited from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on shares of BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of BankUnited from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lifted their target price on BankUnited from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, BankUnited presently has a consensus rating of “Hold” and an average price target of $34.40.

BankUnited Trading Up 0.8 %

BKU opened at $38.43 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.88 and a current ratio of 0.87. BankUnited has a one year low of $20.84 and a one year high of $39.51. The company has a market cap of $2.87 billion, a P/E ratio of 16.56 and a beta of 1.35. The business’s 50-day simple moving average is $34.36 and its 200-day simple moving average is $29.88.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were issued a $0.29 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.02%. BankUnited’s payout ratio is 50.00%.

Insider Transactions at BankUnited

In related news, insider Jay D. Richards sold 10,143 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $36.61, for a total value of $371,335.23. Following the transaction, the insider now owns 37,187 shares in the company, valued at approximately $1,361,416.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jay D. Richards sold 10,143 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the sale, the insider now directly owns 37,187 shares of the company’s stock, valued at $1,361,416.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the completion of the transaction, the director now owns 43,654 shares in the company, valued at $1,593,371. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,507 shares of company stock worth $802,400. Company insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

A number of hedge funds have recently added to or reduced their stakes in BKU. Natixis Advisors L.P. raised its stake in shares of BankUnited by 6.8% during the 4th quarter. Natixis Advisors L.P. now owns 43,653 shares of the financial services provider’s stock worth $1,415,000 after buying an additional 2,762 shares in the last quarter. LSV Asset Management lifted its holdings in BankUnited by 3.4% in the fourth quarter. LSV Asset Management now owns 2,427,027 shares of the financial services provider’s stock valued at $78,708,000 after acquiring an additional 80,577 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of BankUnited by 17.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,921 shares of the financial services provider’s stock worth $46,989,000 after purchasing an additional 212,496 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of BankUnited during the 4th quarter worth $532,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of BankUnited by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,596,577 shares of the financial services provider’s stock valued at $116,639,000 after purchasing an additional 251,281 shares in the last quarter. 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.