olivLaw · US equity research
BankUnited, Inc. BKU
Savings Institution, Federally Chartered · SIC 6035 · Vertical: Savings Institution, Federally Chartered (SIC 6035)
BankUnited is a regional bank with assets of 35.0 billion USD at the end of 2025, focused on commercial and small business clients in Florida, New York and other southern markets. In 2026 the bank kept rebalancing its balance sheet toward non-interest deposits and commercial loans, and the net interest margin rose to 3.16% in the third quarter.
At the close of 04 Nov 2026, BankUnited, Inc. (BKU) stock was 44.96 USD (+3.95% on the day), with market capitalisation 3.2 bn USD, P/E 12.3 on diluted EPS of 3.65 USD over the last 12 months, dividend yield 2.85%, beta 1.13, 52-week range 38.29–50.93 USD. Latest reported quarter (Q2 2026): revenue of 6.3 m USD (+18.5% YoY), net income of 70.7 m USD (+2.8% YoY), diluted EPS 0.97 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 60.1
- strong (55–70)
- Bollinger (20, 2)
- 40.84 – 44.65
- above the upper band · %B 1.08 · band width 8.9%
- SMA 50 / 200
- 43.74 / 46.27
- mixed trend
- MACD (12, 26, 9)
- 0.12 / -0.18
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.0% | −1.1% | +5.1 pp | — |
| 3 months | −5.3% | −0.5% | −4.9 pp | — |
| 6 months | −6.2% | +4.4% | −10.6 pp | — |
| Year to date | +0.9% | +12.3% | −11.4 pp | — |
| 1 year | +11.9% | +13.5% | −1.6 pp | +26.3% |
| 3 years | +81.1% | +76.4% | +4.7 pp | +71.9% |
| 5 years | +4.3% | +63.7% | −59.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.0 m | 5.0 m | 5.2 m | 5.3 m | 5.4 m | 5.8 m | 6.2 m | 6.3 m |
| Depreciation & amortisation | 17.5 m ≈ | 13.8 m | 14.1 m | 13.2 m ≈ | 12.6 m ≈ | 11.1 m | 8.7 m | 11.1 m ≈ |
| Interest expense | 258.2 m | — | — | — | — | — | — | — |
| Pre-tax income | 83.2 m | 93.0 m | 80.1 m | 93.9 m | 97.9 m | 89.8 m | 81.7 m | 94.4 m |
| Income tax | 21.7 m | 23.7 m | 21.6 m | 25.1 m | 26.1 m | 20.6 m | 19.9 m | 23.7 m |
| Net income | 61.5 m | 69.3 m | 58.5 m | 68.8 m | 71.9 m | 69.3 m | 61.9 m | 70.7 m |
| Diluted EPS | 0.81 | 0.91 | 0.78 | 0.91 | 0.95 | 0.90 | 0.83 | 0.97 |
| Operating cash flow | 46.1 m ≈ | 185.5 m | 16.4 m | 117.6 m ≈ | 99.7 m ≈ | 124.9 m | 18.3 m | 128.6 m ≈ |
| Dividends paid | 21.6 m ≈ | 21.6 m | 22.2 m | 23.2 m ≈ | 23.3 m ≈ | 23.3 m | 24.1 m | 24.3 m ≈ |
| Share repurchases | 0 ≈ | 0 | 0 | 0 ≈ | — | — | 60.0 m | 50.6 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 39-quarter history (min 5.6, median 10.7, max 18.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.4 m | 16.5 m | 16.5 m | 21.7 m | 22.5 m | 20.9 m | 20.2 m | 21.7 m |
| Revenue YoY | +9.3% | +14.8% | −0.3% | +31.5% | +3.8% | −7.1% | −3.3% | +7.4% |
| Net income | 324.9 m | 313.1 m | 197.9 m | 415.0 m | 285.0 m | 178.7 m | 232.5 m | 268.4 m |
| Net income YoY | −47.1% | −3.6% | −36.8% | +109.7% | −31.3% | −37.3% | +30.1% | +15.4% |
| Diluted EPS | 2.99 | 3.13 | 2.06 | 4.52 | 3.54 | 2.38 | 3.08 | 3.53 |
| Diluted EPS YoY | −46.4% | +4.7% | −34.2% | +119.4% | −21.7% | −32.8% | +29.4% | +14.6% |
| net % | 2,254.1% | 1,893.1% | 1,199.4% | 1,913.7% | 1,266.0% | 854.6% | 1,149.3% | 1,234.8% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 217.8 m USD
- Financial debt
- 296.9 m USD
- Net debt
- 79.1 m USD
- Equity
- 3.1 bn USD
- Total assets
- 35.0 bn USD
- Debt / equity
- 0.10x
- Current ratio
- unavailable
- ROE
- 9.1%
- ROA
- 0.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Net interest income | 751.8 m | 795.7 m | 913.0 m | 873.8 m | 914.3 m | 987.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Net fee income | 133.2 m | 134.2 m | 77.6 m | 86.8 m | 99.2 m | 105.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Non-interest expense | 457.2 m | 547.6 m | 540.3 m | 636.0 m | 642.0 m | 663.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 249.4 m | 449.4 m | 375.1 m | 237.1 m | 316.3 m | 361.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 197.9 m | 415.0 m | 285.0 m | 178.7 m | 232.5 m | 268.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 2.06 | 4.52 | 3.54 | 2.38 | 3.08 | 3.53 | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | 0.92 | 0.92 | 1.00 | 1.08 | 1.16 | 1.24 | SEC (XBRL)· 26 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 397.7 m | 314.9 m | 572.6 m | 588.3 m | 491.1 m | 217.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Loans | 23.6 bn | 23.6 bn | 24.7 bn | 24.4 bn | 24.1 bn | 24.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 35.0 bn | 35.8 bn | 37.0 bn | 35.8 bn | 35.2 bn | 35.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Deposits | 27.5 bn | 29.4 bn | 27.5 bn | 26.5 bn | 27.9 bn | 29.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 689.9 m | 691.2 m | 692.5 m | 682.5 m | 683.9 m | 296.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 32.0 bn | 32.8 bn | 34.6 bn | 33.2 bn | 32.4 bn | 32.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 3.0 bn † | 3.0 bn † | 2.4 bn † | 2.6 bn † | 2.8 bn † | 3.1 bn † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Dividends paid | 86.5 m | 85.8 m | 79.4 m | 79.1 m | 85.5 m | 91.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 101.0 m | 318.5 m | 401.3 m | 55.2 m | 0 | 44.8 m | SEC (XBRL)· 26 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Market and valuation
Banking
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 41 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet45
- Valuation65
- Quality39
- Growth0
- Returns64
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 16.29 – 57.97 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income41.14 – 43.01 (Mid 42.06)
- Justified P/B36.15 – 48.62 (Mid 41.47)
- Dividend discount (DDM)16.29 – 21.91 (Mid 18.69)
- Peers: P/E39.46 – 48.84 (Mid 44.08)10 companies used · median multiple 12.1x · quartiles 10.8x – 13.4xAX, CFFN, EBC, FCAP, HFBL, HTB, KRNY, NRIM, PFS, WNEB
- Peers: P/B42.78 – 57.97 (Mid 48.22)12 companies used · median multiple 1.1x · quartiles 1.0x – 1.4xAX, CFFN, EBC, FCAP, FDSB, HFBL, HTB, KFFB, KRNY, NRIM, PFS, WNEB
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 41/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 9.2% | 50 (vs peers) | 19% |
| ROA · Quality | 0.8% | 27 (on a fixed band) | 7% |
| Cost-to-income · Quality | 60.7% | 17 (on a fixed band) | 12% |
| Net interest margin · Quality | 2.9% | 55 (on a fixed band) | 7% |
| EPS CAGR 3Y · Growth | -0.1% | 0 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | -1.2% | 0 (on a fixed band) | 7% |
| NPL ratio · Balance sheet | unavailable | unavailable | — |
| Cost of risk · Balance sheet | unavailable | unavailable | — |
| Loan-to-deposit · Balance sheet | 82.1% | 45 (on a fixed band) | 5% |
| P/B · Valuation | 1.1x | 69 (vs peers) | 12% |
| P/E (TTM) · Valuation | 12.3x | 62 (vs peers) | 12% |
| Dividend yield · Returns | 2.8% | 64 (vs peers) | 10% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial45/100 · 1/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality39/100 · 4/4 factors with a value
- Returns64/100 · 1/1 factors with a value
- Valuation65/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BankUnited, Inc. (BKU). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: net interest income 987.6 m USD in 2025; YoY growth 7.4%; net margin 1,154.5%; ROE 9.2%.
The estimated value range is 39.46–48.62 USD per share (median of 5 methods, agreement: high); assumptions are illustrative. Against the central value of 42.06 USD, the price of 44.96 USD leaves a potential of -6.5% (value / price − 1) and a margin of safety of -6.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 41/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROA: 0.8%
- Cost-to-income: 60.7%
- EPS CAGR 3Y: -0.1%
- Revenue CAGR 3Y: -1.2%
Not assessed (insufficient data or a ratio without meaning): NPL ratio, Cost of risk.
Versus the vertical median
Savings Institution, Federally Chartered (SIC 6035) · same industry (4-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXAxos Financial, Inc. | 5.4 bn | 10.7 | 16.7% | 624.8% | +23.5% | +15% / +147% |
| EBCEastern Bankshares, Inc. | 5.3 bn | 13.3 | 9.4% | 257.2% | +19.1% | +24% / +95% |
| TFSLTfs Financial Corporation | 4.7 bn | 46.0 | 5.3% | — | unavailable | +17% / +26% |
| BKUBankUnited, Inc. | 3.2 bn | 12.3 | 9.2% | 1,154.5% | +7.4% | +12% / +81% |
| PFSProvident Financial Services Inc | 3.1 bn | 9.8 | 11.1% | 411.6% | +7.1% | +23% / +55% |
| CFFNCapitol Federal Financial, Inc. | 1.1 bn | 13.4 | 8.0% | 508.2% | +6.5% | +33% / +63% |
| HTBHomeTrust Bancshares, Inc. | 798.6 m | 12.5 | 11.0% | — | −1.9% | +17% / +107% |
| KRNYKearny Financial Corp. | 605.1 m | 16.4 | 4.8% | — | +36.0% | +36% / +18% |
| NRIMNorthrim Bancorp, Inc. | 545.0 m | 9.9 | 16.6% | 21.8% | +30.4% | −0% / +99% |
| WNEBWestern New England Bancorp, Inc. | 281.6 m | 16.7 | 6.9% | — | −34.3% | +15% / +79% |
| FCAPFirst Capital, Inc. | 215.3 m | 11.6 | 13.9% | 252.8% | +1.6% | +29% / +145% |
| FDSBFifth District Bancorp, Inc. | 92.5 m | 52.4 | 1.3% | 273.6% | −2.3% | +29% / unavailable |
| HFBLHome Federal Bancorp, Inc. of Louisiana | 67.7 m | 11.1 | 10.8% | 364.5% | +30.0% | +40% / +72% |
| KFFBKentucky First Federal Bancorp | 44.4 m | 32.0 | 2.9% | — | −11.8% | +31% / +18% |
| BYFCBroadway Financial Corporation | — | — | -7.6% | -11,027.1% | +18.7% | +86% / +54% |
1- and 3-year price returns: for BKU from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 26.38 Total return -39% · Per year -39% | 46.77 Total return 7% · Per year 7% | 70.63 Total return 61% · Per year 61% |
| 3 years | 22.77 Total return -43% · Per year -17% | 45.69 Total return 10% · Per year 3% | 76.15 Total return 81% · Per year 22% |
| 5 years | 19.65 Total return -47% · Per year -12% | 44.63 Total return 14% · Per year 3% | 82.10 Total return 102% · Per year 15% |
- Exit P/E± 11.42
- Net margin± 7.99
- Annual revenue growth± 6.94
- Annual dilution± 0.67
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
BankUnited is a regional bank with assets of 35.0 billion USD at the end of 2025, focused on commercial and small business clients in Florida, New York and other southern markets. In 2026 the bank kept rebalancing its balance sheet toward non-interest deposits and commercial loans, and the net interest margin rose to 3.16% in the third quarter 3.
SWOT
Strengths
Weaknesses
- Dependence on the Florida and New York markets exposes the bank to regional risks.
- The value of the securities portfolio fell as yields rose, reducing tangible capital.
- Return on assets remains modest relative to the need to lift profitability.
Opportunities
- Growth in commercial and small business lending could improve the balance sheet return.
- Expansion in Atlanta, Dallas and Charlotte could bring new deposits if the effort continues.
- If deposit costs keep falling, the net interest margin could widen further.
Threats
- Intense competition for deposits could pressure costs and margins.
- Extreme weather and crises in coastal regions can affect clients and collateral values.
- A downgrade of the credit rating could raise the cost of capital and limit funding access.
Risks
- Credit riskhigh
Losses on commercial loans, especially in the office real estate sector, could rise if the economy weakens.
- Interest rate riskhigh
Changes in benchmark rates could reduce the net interest margin, especially when variable-rate assets reprice faster than liabilities.
- Competitive riskmedium
Competition for deposits and loans could compress margins and slow customer acquisition.
- Climate and operational riskmedium
Hurricanes and flooding in Florida could disrupt operations and reduce the value of collateral.
- Reputational and sector confidence riskmedium
Problems at other regional banks could trigger deposit outflows and volatility in the share price.
Investment thesis
What would need to be true (bull case)
- The net interest margin has risen steadily and non-interest deposits are growing, suggesting cheaper funding over a longer period 23.
- Credit quality indicators have improved compared with last year, with very low net charge-offs 3.
- If the bank keeps its capital discipline and continues repurchases, earnings per share could grow.
What would break the thesis
- Non-performing loans rose from the prior quarter, showing that improvements are not yet stable 3.
- Tangible book value per share fell in the third quarter, mainly because of losses on securities 3.
- Concentrated markets and intense competition could limit the bank's ability to grow deposits without paying more.
What to watch
- Trend of the net interest margin and deposit costsQ4 2026
- Pace of run-off in residential loans versus growth in commercial lending2027
- Level of non-performing loans and net charge-offsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
BankUnited, Inc. is a bank holding company whose only direct subsidiary is BankUnited, a national bank headquartered in Miami Lakes, Florida 1. The bank provides full consumer and commercial banking to individuals, small businesses, middle-market companies and large corporations, with operations in Florida, the New York Tri-State area, Dallas, Atlanta and Charlotte 1. The stated strategy is to build a leading regional commercial and small business bank, grown mainly organically although acquisitions are evaluated 1.
Market context
Florida is the largest banking market, followed by the New York metropolitan area, and the bank has more recently entered Atlanta, Dallas and Charlotte 1. Competition is intense, with many community and regional banks and a significant presence of the largest commercial banks 1. Interest rate levels and their path directly affect the net interest margin and deposit costs.
Trends
- Balance sheet and funding repositioningtailwind
The company has reduced wholesale funding and grown core deposits, which improved the net interest margin quarter after quarter 23. If this continues, funding costs could fall further.
- Pressure on asset yieldsheadwind
Variable-rate loans and securities repriced downward faster than the benefit from lower funding costs, which limited margin expansion 3. If benchmark rates fall further, the liability advantage could be offset.
- Credit qualitymixed
Risk indicators improved versus a year earlier, with lower non-performing loans and low net charge-offs 3. However, non-performing loans rose from the prior quarter, so the trend is not linear.
- Shareholder returns and capitalmixed
The bank continued share repurchases and kept CET1 solid, although tangible book value fell in the third quarter because of unrealized losses on securities 3. Regulatory limits and securities sales may influence the pace of these distributions.
Competitive position
Competitors include community and regional banks, the largest commercial banks, savings associations and credit unions, as well as FinTech companies, private credit funds and consumer finance companies 1. The company says it can compete most successfully by focusing on growing companies and small and middle-market businesses with personalized services and digital tools 1.
- Large commercial banks
Significant presence in the markets where BankUnited operates, with scale advantages in some products 1.
- Community and regional banks
Numerous in the key markets, competing on local relationships and small business lending 1.
- FinTech companies and private credit funds
Compete through digital channels and non-bank products, and technology has lowered entry barriers 1.
- Credit unions and savings associations
Compete for consumer deposits and mortgages, sometimes with lower cost structures 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report21 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report22 Jul 2026Results of operations · Financial statements and exhibits
- Current report21 May 2026Departure or appointment of officers · Shareholder vote
- Current report12 May 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report22 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement10 Apr 2026
- Annual report26 Feb 2026
- Current report11 Feb 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / BankUnited, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / BankUnited, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / BankUnited, Inc. · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.