Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yiel ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Class Trading Symbol Name of Exchange on Which Registered Common Stock, $0.01 Par Value BKU New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 Commission File Number: 001-35039 BankUnited, Inc. (Exact name of registrant as speci ...

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. BankUnited, Inc. Currently has a Zacks Rank of #2 (Buy). Our research shows that st ...

BankUnited, Inc. (BKU) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. As such, the Zacks rating upgrade for BankUnited is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. The change in a company's future earnings potential, as reflected in earnings estimate revisions, has p ...

Earnings were aided by an increase in deposits. However, lower net interest income (NII) and non-interest income, loan balance, along with higher expenses, were the undermining factors. Quarterly net revenues were $250.2 million, down 4.5% year over year. However, the top line surpassed the Zacks Consensus Estimate of $243.5 million. Non-interest expenses rose 8.6% to $157.7 million. The increase was mainly due to a rise in all the components except depreciation of operating lease equipment. Our estimate fo ...

Financial Data and Key Metrics - EPS for Q2 2024 came in at $0.72, beating the consensus estimate of around $0.65 [4] - Net interest margin (NIM) increased by 15 basis points to 2.72% from 2.57% in the previous quarter [37] - Non-interest-bearing demand deposits (NIDDA) grew by $826 million, contributing to an 11% quarter-over-quarter increase [8] - Total deposits grew by $736 million, with non-brokered deposits increasing by $1.3 billion [5][8] - Loan yields increased from 5.78% to 5.85%, driven by higher-yielding new production [49] - The allowance for credit losses (ACL) to loans ratio increased from 90 basis points to 92 basis points [32] Business Line Performance - Commercial and industrial (C&I) loans grew by $475 million, while commercial real estate (CRE) loans grew by $114 million [26] - Residential loans declined by $212 million, and the leasing business continued to run off [6][26] - The CRE portfolio remained stable at 24% of total loans, with a weighted average loan-to-value (LTV) ratio of 56% and a debt service coverage ratio (DSCR) of 1.77 [27] - The office CRE portfolio showed improvement in credit metrics across 9 out of 16 submarkets, with a weighted average LTV of 66% and DSCR of 1.59 [10][11] Market Performance - Florida markets remained strong, with year-over-year rent increases in most major submarkets and declining sublease activity [12] - The New York Tri-State area saw encouraging signs in leasing activity, with 15.5 million square feet leased in the first half of 2024, up 9% year-over-year [46] - The Tampa market showed over 1.4 million square feet of lease space, with only 6% sublease activity [12] Strategy and Industry Competition - The company is focused on transforming its balance sheet, with significant growth in NIDDA and a reduction in wholesale funding by $1.2 billion [5][21] - The company is shifting its portfolio composition towards higher-yielding assets, with a focus on C&I and CRE loans [26][37] - The company is investing in commercial card and capital markets products, which are beginning to show noticeable results [22] - The company is maintaining a conservative approach to CRE exposure, with CRE loans at 24% of total loans and 165% of total risk-based capital [27] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the pipeline for new relationships and expects mid-single-digit growth in noninterest expense for the year [16][40] - The company expects the NIM to expand further in the second half of 2024, potentially reaching the high 2% range [48] - Management highlighted the importance of deposit growth, particularly NIDDA, for the company's success [40] - The company is cautious about the impact of seasonality on deposit growth in the second half of the year [23] Other Important Information - The company reduced its wholesale funding to levels last seen in early 2022, despite the current high Fed funds rate [21] - The company added Ernie Diaz, a former TD Bank executive, to its team, bringing new ideas and expertise [41] - The company expects the ACL to gradually build to around 1% of loans by the end of 2024, driven by portfolio composition changes [15] Q&A Summary Question: Deposit Growth and Seasonality - The company expects mid-teens growth in NIDDA, with seasonality likely to dampen growth in the second half of the year [53][137] - The title business, which contributed significantly to deposit growth, is expected to benefit from potential mortgage refinancing booms in the future [134] Question: Loan Yields and Portfolio Composition - New loan yields are around 7.5% to 8%, while residential portfolio yields are in the mid-3% range [59] - The company expects loan yields to increase by 5 to 10 basis points as the portfolio shifts towards higher-yielding C&I and CRE loans [75] Question: Office CRE Portfolio and Reserves - The office CRE portfolio has a reserve of 2.47%, with management confident in the adequacy of reserves despite some asset-specific challenges [100] - Lease abatements and renovation periods are the primary issues affecting the office portfolio, but overall performance remains strong [85] Question: Capital Deployment and Share Buybacks - The company is considering capital deployment options, including potential share buybacks, but will prioritize profitable growth opportunities [117][97] - A discussion on capital deployment is planned for the August Board meeting [117] Question: CMBS Market Exposure - The company has no single asset, single borrower exposure in the CMBS market and sees no risk of impairment in its portfolio [88][102] Question: Expense Guidance - The company maintains its mid-single-digit expense growth guidance for the year, driven by railcar refurbishment costs and other factors [71][103]

1 BankUnited Execution on Near-term Strategic Priorities Improve Asset Mix • Same day available liquidity $14.9 billion • Available liquidity 139% of uninsured, uncollateralized deposits; 61% of deposits insured or collateralized. • CET 1 ratio of 11.6%; TCE/TA increased to 7.4% 1 4 3 Manage Expenses • Expenses stable quarter-over-quarter 6 Net Interest Margin • Non-brokered deposits grew $1.3 billion • Non-interest bearing DDA 29% of total deposits; up $826 million for the quarter • Total deposits grew by ...

BankUnited, Inc. (BKU) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10.77%. A quarter ago, it was expected that this company would post earnings of $0.62 per share when it actually produced earnings of $0.64, delivering a surprise of 3.23%. Over the last four quarters, the company ...

| --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------|----------------------------------|--------------------|-----------------------------------|--------------------|--------------------------------------|--------------------|----------------------------------------------| | | June 30, 2024 \nBankUnited, Inc. | \nBankUnited, N.A. | March 31, 2024 \nBankUnited, Inc. | \nBankUnited, N.A. | December 31, 2023 \nBankUnited, Inc. | \nBankUnited, N.A. | Requi ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 18. On the other hand, if they miss, the stock may move lower. Revenues are expected to be $245.22 million, up 2.4% from the year-ago quarter. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Thus, a positive or negative Earnings ESP reading theoretically indicat ...