BankUnited misses Q2 estimates as EPS falls 5% below consensus

BankUnited Inc. reported second-quarter earnings that missed analyst estimates on both profit and revenue, sending shares lower in after-hours trading.

The New York-based regional bank posted adjusted earnings per share of 97 cents for the quarter ended June 30, falling short of the $1.02 consensus estimate compiled by Bloomberg. Revenue came in at $284.6 million, below the $293.3 million analysts had expected.

"The quarter reflected continued pressure on net interest income amid a challenging rate environment," Chief Executive Officer Rajinder Singh said in a statement. "We are focused on managing expenses and maintaining strong credit quality."

The miss marks the first time BankUnited has fallen short of consensus EPS estimates in four quarters. Net interest income, a key metric for regional banks, declined as the lender navigated a flat yield curve and elevated deposit costs. The company did not disclose updated net interest margin figures for the quarter.

Shares of BankUnited fell about 3 percent in extended trading following the release. The stock had gained roughly 12 percent year-to-date through Wednesday's close, outperforming the broader KBW Nasdaq Regional Banking Index.

The results underscore the pressure facing mid-sized US lenders as higher-for-longer interest rates squeeze margins and competition for deposits remains intense. BankUnited's next catalyst will be its third-quarter earnings report in October, when investors will look for signs of margin stabilization and loan growth.

This article is for informational purposes only and does not constitute investment advice.