Latest news with #BankUnited
Yahoo
a day ago
- Business
- Yahoo
BankUnited (BKU) Q2 Earnings Report Preview: What To Look For
Regional banking company BankUnited (NYSE:BKU) will be reporting earnings this Wednesday morning. Here's what investors should know. BankUnited missed analysts' revenue expectations by 2.5% last quarter, reporting revenues of $255.4 million, up 5.7% year on year. It was a softer quarter for the company, with a significant miss of analysts' net interest income estimates and EPS in line with analysts' estimates. Is BankUnited a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting BankUnited's revenue to grow 6.3% year on year to $265.9 million, improving from the 4.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.78 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BankUnited has missed Wall Street's revenue estimates five times over the last two years. Looking at BankUnited's peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Texas Capital Bank delivered year-on-year revenue growth of 15.2%, beating analysts' expectations by 2.7%, and Nicolet Bankshares reported revenues up 12.7%, topping estimates by 4.4%. Texas Capital Bank traded up 4.8% following the results while Nicolet Bankshares was also up 7.8%. Read our full analysis of Texas Capital Bank's results here and Nicolet Bankshares's results here. There has been positive sentiment among investors in the regional banks segment, with share prices up 7.8% on average over the last month. BankUnited is up 9.6% during the same time and is heading into earnings with an average analyst price target of $40.13 (compared to the current share price of $37.81). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio
Yahoo
09-07-2025
- Business
- Yahoo
Planet Hollywood sues Florida bank in alleged PPP fraud
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Planet Hollywood and its affiliated companies are suing Miami-based BankUnited over roughly $6 million in Paycheck Protection Program debt, claiming that it should have been forgiven under the Coronavirus Aid, Relief and Economic Security Act. In a lawsuit filed last week, the restaurant chain claimed that the COVID-19 pandemic-era economic stimulus would have saved at least $4.5 million 'but for the fraud, negligence, and misrepresentations of BankUnited.' The plaintiffs and Planet Hollywood International applied for and received a consolidated PPP loan of more than $7 million, which was funded April 20, 2020. The following month, BankUnited allegedly forced the plaintiffs to abandon the original loan and enter separate loan agreements for each entity with different federal Employer Identification Numbers. BankUnited claimed this was necessary to comply with the Small Business Administration's May 4, 2020, interim final rule. However, the lawsuit contends that the rule did not apply retroactively to loans disbursed before April 30, 2020. The restructured loans fell under the rule's $20 million single corporate group cap called the corporate group limitation, making them ineligible for forgiveness. Moreover, BankUnited allegedly earned more than $125,000 in additional loan origination fees by forcing the creation of seven new separate loans. Planet Hollywood now owes the Florida lender $6 million for allegedly mishandling PPP loans. However, around $4.5 million of the loan would have been forgiven if not for BankUnited's alleged 'fraud' and 'negligence,' the lawsuit claimed. 'But for BankUnited's misrepresentations, fraud, false statements, coercion, threats, and misconduct in forcing Plaintiffs to reapply for PPP loans it claimed violated the [rule] mandates despite the rule's plain and unambiguous language, Plaintiffs' Original Loan would have qualified for forgiveness by the SBA,' according to the lawsuit. 'Instead, due to BankUnited's actions, Plaintiffs are left with millions of dollars in debt.' Further, the plaintiffs alleged that BankUnited had more knowledge and expertise than Planet Hollywood regarding banking, the CARES Act and PPP, and access to information and SBA staff. The companies are suing BankUnited over fraudulent misrepresentation and negligence. Planet Hollywood is seeking full compensation for unforgiven loans and accumulated interest that the plaintiffs are obligated to repay in connection with their PPP loans that would have been forgiven, as well as any other remedies the court deems appropriate. Planet Hollywood, for its part, has faced financial challenges throughout its existence. In 1999, it applied for Chapter 11 bankruptcy, citing revenue loss. In 2000, it exited Chapter 11 with a reorganization plan and applied for Chapter 11 bankruptcy again in October 2001. In April 2025, PB Restaurants, the operator of Planet Hollywood restaurants in New York City's Times Square and Los Angeles International Airport, filed for Chapter 11 bankruptcy. The LAX location permanently closed in April. As of May 2025, three Planet Hollywood restaurants remain operational. Recommended Reading Bank trade groups blast SBA's fintech proposal
Yahoo
07-07-2025
- Business
- Yahoo
Planet Hollywood sues BankUnited over unforgiven PPP debt
Planet Hollywood is suing Miami-based BankUnited for allegedly turning a pandemic lifeline into a mountain of debt. In a lawsuit filed on July 2, the restaurant chain accused the $35 billion-asset bank of mishandling a government-backed loan from the COVID era, leaving the borrower owing more than $6 million. Most of that debt would have been discharged if not for BankUnited's "fraud" and "negligence," according to Planet Hollywood. "But for BankUnited's actions, misrepresentations, and threats to Plaintiff … at least $4.5 million of the loans would have been forgiven," Planet Hollywood's lawyers wrote in their complaint. A BankUnited spokesperson declined American Banker's request for comment, saying the bank does not speak publicly about pending cases. Planet Hollywood's attorneys said the company had no comment beyond what was written in the complaint. The lawsuit, which was filed in Florida state court, was earlier reported by Law360. The saga dates back to the early days of the COVID-19 pandemic, when the federal government made generous Paycheck Protection Program loans to businesses to keep the U.S. economy afloat. In April 2020, Planet Hollywood successfully applied for one such loan, totaling more than $7 million, with BankUnited acting as a middleman. But just one month after approving the loan, the complaint alleges, BankUnited did something unusual: Rather than leaving the debt in one piece, the bank demanded that it be broken up into seven smaller loan agreements. Planet Hollywood complied. As a result, the new loans were now subject to a rule implemented by the Small Business Administration on May 4, 2020. As such, the debt was no longer eligible for forgiveness — at a time when the SBA was forgiving many other such loans. According to Planet Hollywood, BankUnited made this demand under false pretenses. The bank allegedly claimed that breaking up the loan was necessary to comply with the new SBA rule, even though the rule explicitly did not apply retroactively. And there was allegedly also a threat: If Planet Hollywood did not follow BankUnited's instructions, the bank would recall the original loan. Consequently, the lawsuit says, Planet Hollywood ended up owing $4,505,978 that would have otherwise been forgiven by the SBA. In the meantime, BankUnited collected more than $125,000 in loan origination fees, thanks to the seven new loans. "These breaches were conscious, voluntary acts which BankUnited knew created a clear and present risk that Plaintiffs would lose their eligibility for loan forgiveness," Planet Hollywood's lawyers wrote. "BankUnited persisted in its course of action to coerce Plaintiffs to file new, separate loan applications in conscious disregard of the consequences."The restaurant chain is now suing for "all loans and interest," totaling more than $4.5 million, that it currently owes as a result of BankUnited's alleged actions. Planet Hollywood has had a long history of financial trouble. In its 1990s heyday, the chain operated more than 60 restaurants around the world, as well as hotels and casinos. But it later filed for bankruptcy, once in 1999 and again in 2001. Today the chain's website lists only two restaurants and five resorts, at least one of which is owned by a different company.
Business Insider
03-07-2025
- Business
- Business Insider
RBC Capital Sticks to Its Hold Rating for BankUnited (BKU)
In a report released yesterday, Jon Arfstrom from RBC Capital maintained a Hold rating on BankUnited, with a price target of $40.00. The company's shares closed yesterday at $37.61. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Arfstrom covers the Financial sector, focusing on stocks such as Huntington Bancshares, American Express, and Cadence Bank. According to TipRanks, Arfstrom has an average return of 12.3% and a 57.06% success rate on recommended stocks. Currently, the analyst consensus on BankUnited is a Hold with an average price target of $39.00, implying a 3.70% upside from current levels. In a report released yesterday, Citi also maintained a Hold rating on the stock with a $38.00 price target. The company has a one-year high of $44.45 and a one-year low of $28.21. Currently, BankUnited has an average volume of 895.1K. Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BKU in relation to earlier this year. Most recently, in May 2025, John N. DiGiacomo, a Director at BKU sold 1,000.00 shares for a total of $34,430.00.
Yahoo
30-06-2025
- Business
- Yahoo
Are You Looking for a Top Momentum Pick? Why BankUnited, Inc. (BKU) is a Great Choice
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Below, we take a look at BankUnited, Inc. (BKU), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score. It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. BankUnited, Inc. Currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. You can see the current list of Zacks #1 Rank Stocks here >>> Let's discuss some of the components of the Momentum Style Score for BKU that show why this company shows promise as a solid momentum pick. Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area. For BKU, shares are up 0.12% over the past week while the Zacks Banks - Major Regional industry is up 3.39% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 4.89% compares favorably with the industry's 6.99% performance as well. While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of BankUnited, Inc. Have increased 19.68% over the past quarter, and have gained 21.76% in the last year. On the other hand, the S&P 500 has only moved 8.73% and 13.86%, respectively. Investors should also pay attention to BKU's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. BKU is currently averaging 780,053 shares for the last 20 days. The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with BKU. Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost BKU's consensus estimate, increasing from $3.18 to $3.20 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period. Taking into account all of these elements, it should come as no surprise that BKU is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep BankUnited, Inc. On your short list. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BankUnited, Inc. (BKU) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
