What is Wedbush's Estimate for BankUnited FY2024 Earnings?

BankUnited, Inc. (NYSE:BKU - Free Report) - Wedbush decreased their FY2024 earnings estimates for BankUnited in a report issued on Wednesday, October 23rd. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $2.85 for the year, down from their prior forecast of $2.87. Wedbush currently has a "Neutral" rating and a $40.00 price target on the stock. The consensus estimate for BankUnited's current full-year earnings is $2.86 per share. Wedbush also issued estimates for BankUnited's Q3 2025 earnings at $0.71 EPS and Q4 2025 earnings at $0.70 EPS.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The company had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. During the same quarter in the prior year, the business earned $0.63 earnings per share.

Several other research firms also recently weighed in on BKU. Citigroup cut their price target on BankUnited from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price target on shares of BankUnited from $34.50 to $41.00 and gave the company a "neutral" rating in a research report on Tuesday, July 23rd. Barclays upped their price target on shares of BankUnited from $35.00 to $39.00 and gave the company an "equal weight" rating in a research note on Friday, September 27th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $37.00 price objective on shares of BankUnited in a research note on Wednesday, October 23rd. Finally, Hovde Group boosted their target price on shares of BankUnited from $33.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $36.40.

BankUnited Stock Performance

NYSE BKU traded up $1.25 on Monday, hitting $35.84. 935,331 shares of the stock traded hands, compared to its average volume of 815,782. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.45 and a beta of 1.33. The business's fifty day moving average is $36.39 and its two-hundred day moving average is $32.56. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87. BankUnited has a 12 month low of $21.29 and a 12 month high of $39.51.

Institutional Investors Weigh In On BankUnited

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in 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 lifted 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 worth $16,803,000 after buying an additional 559,720 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in 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 buying an additional 350,071 shares in the last quarter. Vanguard Group Inc. grew its position in BankUnited by 3.7% during the fourth 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 during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of BankUnited by 3,658.4% during the 2nd 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 hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William S. Rubenstein sold 7,864 shares of the business'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 completion of the transaction, the director now directly owns 10,282 shares in the company, valued at $396,576.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.19% of the stock is currently owned by company insiders.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.29 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.24%. BankUnited's payout ratio is currently 50.00%.

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.