Overview

* BankUnited ( BKU ) 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/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.95

Q3 Net $71.85

Income mln

Q3 Net $250.10

Interest mln

Income

Q3 $11.57

Credit mln

Loss

Provisio

n

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 ( BKU ) 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:

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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.)