BankUnited reported third-quarter 2026 results showing net interest margin — the gap between what a bank earns on loans and pays on deposits — expanded to 3.16%, beating the company's own guidance, according to its earnings call transcript. Deposit costs fell to 1.99% over the same period, helping drive the margin improvement.
Despite the margin beat, Raymond James cut its price target on BankUnited stock to $48, pointing to revenue concerns rather than the margin trend. The split between improving profitability metrics and a lowered price target suggests analysts see pressure elsewhere in the bank's top line that the margin expansion alone does not offset.
It remains unclear from the available disclosures which specific revenue line is driving the brokerage's caution, since the margin and deposit-cost figures reported this quarter moved in the bank's favor.