BankUnited (BKU) PT Lowered to $52 at Raymond James

Raymond James analyst Michael Rose lowered the price target on BankUnited (NYSE: BKU) to $52.00 (from $55.00) while maintaining a Outperform rating.

The analyst commented, "We maintain our Outperform rating on BKU shares post 1Q26 results that fell short on both a core EPS and PPNR basis, as typical 1Q seasonality was more pronounced than anticipated. Despite the shortfall, the bank reiterated its 2026 full-year outlook in its entirety where shares have traded up from pre-market lows. Despite the confidence in its outlook, in which it pointed to predictable seasonal patterns over the last few years, we believe the stock remains a “show me” story as the remaining three quarters imply a notable step up in NIM/ NII and fee progression to meet its fullyear outlook (3.20% 4Q26 NIM vs. 2.99% in 1Q26, +9% NII growth, and +6% fee growth). Moreover, the jury is still out on the ability to achieve its loan/deposit growth targets. In turn, our downward revised EPS estimates (detailed below) reflect some conservatism along with accounting for the impacts of increased competition and macro/geopolitical uncertainty. That said, we continue to view risk-reward positively given projected fundamental momentum, improving credit trends, ongoing buybacks, and growing scarcity/franchise."

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