Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Bankunited (BKU)
NYSE:BKU
Holding BKU?
Track your performance easily
Earnings Data
Report Date
Jan 16, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.72Last Year’s EPS
$0.76Same Quarter Last Year
Based on 7 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 8.45%
|Next Earnings Date:Jan 16, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment overall, with significant improvements in net income, EPS, and net interest margin. The company's proactive measures in managing deposit costs and maintaining strong credit health are commendable. However, challenges remain in loan portfolio growth and nonperforming assets. The alignment with previous guidance and strategic hires indicate a well-managed trajectory towards continued growth.Company Guidance
During BankUnited's Q3 2024 earnings call, the company reported a net income of $61.5 million or $0.81 per share, surpassing the consensus estimate of $0.74. The net interest margin (NIM) increased to 2.78% from 2.72% in the previous quarter, marking a 9% year-over-year growth. The cost of deposits decreased to 3.06%, with interest-bearing deposits dropping from 4.26% to 4.20%. The loan-to-deposit ratio fell to 87.6%, and non-interest-bearing deposits were down $64 million on average, despite total deposits increasing by $93 million. Credit charge-offs remained low at $6.5 million, and the allowance for credit losses (ACL) rose to 94 basis points. The company anticipates a flat NIM for Q4 and expects non-interest-bearing deposits to remain stable. Looking forward, BankUnited is focused on improving profitability through balance sheet transformation, with a target to grow its non-interest-bearing deposit accounts and maintain a strong pipeline of new business.Improved Net Income and EPS
Net income for the quarter was $61.5 million, or $0.81 per share, improving from $0.72 last quarter and $0.63 in the same quarter last year, exceeding consensus estimates of $0.74.
Net Interest Margin Growth
Net interest margin increased to 2.78% from 2.72% last quarter, representing a 9% increase compared to the third quarter of last year.
Cost of Deposits Reduction
Cost of deposits declined to 3.06% from 3.09% last quarter, with proactive measures to manage deposit costs.
Strong Credit Health
Credit charge-offs remained low at $6.5 million, with ACL increased to 94 basis points from 92.
Capital Strength
Capital [TC EPA] increased to 7.6%, and tangible book value rose to $36.52.
Successful Talent Acquisition
Significant hire of Beth Hosen, who joined from JPMorgan, expected to make a substantial impact.
Guidance Alignment
Current results align with the January guidance, showing double-digit NIDDA growth and non-broker deposits growth in high single digits.
---
BKU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
BKU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $35.13 | $35.02 | -0.31% |
| Jul 18, 2024 | $34.38 | $35.92 | +4.48% |
| Apr 17, 2024 | $24.06 | $24.76 | +2.91% |
| Jan 26, 2024 | $29.24 | $29.06 | -0.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Bankunited (BKU) report earnings?
Bankunited (BKU) is schdueled to report earning on Jan 16, 2025, TBA Not Confirmed.
What is Bankunited (BKU) earnings time?
Bankunited (BKU) earnings time is at Jan 16, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BKU EPS forecast?
BKU EPS forecast for the fiscal quarter 2024 (Q4) is $0.72.
---