Overview
BankUnited Q3 net income rises to $71.9 mln, EPS increases to $0.95
Net interest income for Q3 was $250.1 mln, up from the previous quarter
Company achieved a 3% net interest margin, meeting its target
Outlook
Company did not provide specific guidance for future quarters
Result Drivers
NET INTEREST MARGIN - Achieved 3% target due to favorable funding mix and lower interest expenses
DEPOSITS STABILITY - Total deposits remained flat despite seasonal declines in non-interest bearing demand deposits
CREDIT LOSS PROVISION - Decreased provision for credit losses due to improved economic forecast
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.95
Q3 Net Income
$71.85 mln
Q3 Net Interest Income
$250.10 mln
Q3 Credit Loss Provision
$11.57 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for BankUnited Inc is $43.00, about 14.3% above its October 21 closing price of $36.84
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw5Tfy3Wa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
