BankUnited Inc. (NYSE:BKU) had its price target cut by Barclays PLC from $34.00 to $33.00 in a research note published on Tuesday. They currently have an equal weight rating on the financial services provider’s stock.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reissued a buy rating on shares of BankUnited in a report on Saturday, July 9th. Sandler O’Neill raised shares of BankUnited from a hold rating to a buy rating and set a $34.00 price objective for the company in a research note on Wednesday, June 29th. Bank of America Corp. reaffirmed a buy rating and set a $38.00 price objective on shares of BankUnited in a research note on Monday, June 20th. Zacks Investment Research raised shares of BankUnited from a sell rating to a hold rating in a research note on Friday, June 17th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $34.00 price objective on shares of BankUnited in a research note on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $35.63.
Shares of BankUnited (NYSE:BKU) opened at 28.74 on Tuesday. The stock has a market capitalization of $2.99 billion, a P/E ratio of 11.47 and a beta of 0.83. BankUnited has a 1-year low of $27.85 and a 1-year high of $39.97. The firm’s 50-day moving average is $30.71 and its 200 day moving average is $31.92.
BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. BankUnited had a net margin of 24.42% and a return on equity of 9.80%. During the same period in the prior year, the business posted $0.43 earnings per share. On average, analysts expect that BankUnited will post $2.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, October 13th. BankUnited’s dividend payout ratio (DPR) is 33.60%.
In other news, insider Jeffrey Starr sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.20, for a total value of $156,000.00. Following the completion of the sale, the insider now directly owns 34,000 shares of the company’s stock, valued at $1,060,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Bagnoli sold 2,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $30.11, for a total transaction of $60,220.00. Following the completion of the sale, the insider now directly owns 17,458 shares of the company’s stock, valued at $525,660.38. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in BankUnited during the first quarter worth about $432,000. UBS Asset Management Americas Inc. raised its stake in BankUnited by 66.4% in the first quarter. UBS Asset Management Americas Inc. now owns 616,367 shares of the financial services provider’s stock worth $21,227,000 after buying an additional 245,959 shares during the period. UBS Group AG raised its stake in BankUnited by 18.6% in the first quarter. UBS Group AG now owns 113,775 shares of the financial services provider’s stock worth $3,919,000 after buying an additional 17,832 shares during the period. Rafferty Asset Management LLC raised its stake in BankUnited by 46.4% in the first quarter. Rafferty Asset Management LLC now owns 14,181 shares of the financial services provider’s stock worth $488,000 after buying an additional 4,495 shares during the period. Finally, State Street Corp raised its stake in BankUnited by 2.7% in the first quarter. State Street Corp now owns 3,065,636 shares of the financial services provider’s stock worth $105,581,000 after buying an additional 79,403 shares during the period. 97.02% of the stock is owned by institutional investors and hedge funds.
BankUnited Company Profile
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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