BankUnited, Inc. (NYSE:BKU) Expected to Earn Q2 2024 Earnings of $0.64 Per Share

BankUnited, Inc. (NYSE:BKU) – Analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for BankUnited in a research report issued to clients and investors on Monday, July 15th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $0.64 for the quarter, up from their previous forecast of $0.63. The consensus estimate for BankUnited’s current full-year earnings is $2.78 per share. Zacks Research also issued estimates for BankUnited’s Q4 2024 earnings at $0.78 EPS, FY2024 earnings at $2.76 EPS, Q1 2025 earnings at $0.70 EPS, Q2 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.83 EPS, FY2025 earnings at $3.04 EPS, Q2 2026 earnings at $0.80 EPS and FY2026 earnings at $3.28 EPS.

Several other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of BankUnited from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. boosted their price target on BankUnited from $33.00 to $34.50 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Keefe, Bruyette & Woods lowered their price objective on BankUnited from $33.00 to $31.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Barclays upped their price target on shares of BankUnited from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, June 24th. Finally, Wells Fargo & Company upped their target price on shares of BankUnited from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, BankUnited has an average rating of “Hold” and an average target price of $31.35.

BankUnited Trading Up 1.0 %

BKU opened at $34.66 on Tuesday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 14.94 and a beta of 1.35. The firm’s 50 day moving average is $29.05 and its 200-day moving average is $28.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.48. BankUnited has a 52-week low of $20.84 and a 52-week high of $35.31.

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

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, July 12th. This represents a $1.16 annualized dividend and a yield of 3.35%. BankUnited’s dividend payout ratio (DPR) is 50.00%.

Insiders Place Their Bets

In other news, Director John N. Digiacomo sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total transaction of $43,920.00. Following the completion of the transaction, the director now directly owns 13,482 shares of the company’s stock, valued at $394,752.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BKU. Linden Thomas Advisory Services LLC grew its holdings in BankUnited by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 58,053 shares of the financial services provider’s stock worth $1,699,000 after buying an additional 938 shares in the last quarter. CWM LLC grew its stake in shares of BankUnited by 307.6% in the second quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,455 shares in the last quarter. EMC Capital Management acquired a new position in shares of BankUnited during the first quarter valued at $278,000. Caxton Associates LP raised its stake in shares of BankUnited by 202.7% during the first quarter. Caxton Associates LP now owns 60,570 shares of the financial services provider’s stock valued at $1,696,000 after purchasing an additional 40,557 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in BankUnited by 145.8% in the first quarter. Quadrature Capital Ltd now owns 48,984 shares of the financial services provider’s stock worth $1,370,000 after purchasing an additional 29,058 shares during the period. 99.70% of the stock is owned by institutional investors and hedge funds.

About BankUnited

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.