The shares of BankUnited, Inc are striving very well in regular market hours session, leaping 1.2% to $33.91 after the enterprise posted better than expected earnings, smashing analyst anticipations for the quarter.The company said that it earned $55.27 million or $0.53 per share, which was ahead of analyst forecasts. This was an improvement over last year's earnings number for the same quarter of $0.47 a share. Notably most of the analysts following the stock have been above all quite positive. BKU owners know that it has what it takes to continue making the stock go higher.
Attention was called to a set of certain highlights from the quarter. The yield on covered loans for the quarter ended March 31, 2014 increased to 26.14% from 24.12% for the quarter ended March 31, 2013. This increase in yield on covered loans primarily reflected improvements in expected cash flows and corresponding transfers from non-accretable difference to accretable yield. The yield on new loans decreased to 3.63% for the quarter ended March 31, 2014 from 4.03% for the quarter ended March 31, 2013, primarily reflecting the impact of lower market interest rates on new production over the last year compared to periods prior to 2013. Lastly, a key closing point was given that the tax-equivalent yield on loans declined to 7.04% from 10.54% for the quarter ended March 31, 2014 compared to the quarter ended March 31, 2013, primarily because new loans, originated at yields lower than those on the covered loan portfolio, comprised a greater percentage of total loans.
— Xignite Earnings (@XigniteEarnings) April 23, 2014