BankUnited rises after Q1 profit beats estimates
17/04/2024 16:09
** Shares of regional lender BankUnited BKU.N rise ~1.1%
to $24.75 in morning trading
** Co posts Q1 EPS of 64 cents vs estimates of 60 cents,
according to LSEG data
** "Quarter was a good start to 2024, with continued
improvement in the funding mix, a stable margin and strong
credit performance" - CEO Rajinder Singh
** BKU says the cost of deposits is beginning to stabilize
and that it has "ample" liquidity, with 65% of its deposits
insured or collateralized at quarter-end
** Including session moves, stock down ~24% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com))