Zacks Investment Research upgraded shares of BankUnited (NYSE:BKU) from a hold rating to a buy rating in a research report report published on Friday. The firm currently has $48.00 price target on the financial services provider’s stock.
According to Zacks, “Shares of BankUnited have underperformed the industry in the past 12 months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all of the trailing four quarters. Consistent growth in loans and deposits, and higher interest rates are expected to drive revenues. Moreover, the company is well positioned to grow through acquisitions, given its strong balance sheet position. Further, through consistent dividend payments, the company should continue to enhance shareholder value. However, persistently increasing expenses and continued margin pressure (despite increase in interest rates) remain major near-term concerns.”
Several other analysts also recently commented on the stock. Wells Fargo & Co reiterated an outperform rating and issued a $50.00 target price (up previously from $42.00) on shares of BankUnited in a report on Tuesday. JMP Securities began coverage on shares of BankUnited in a report on Tuesday. They issued an outperform rating for the company. Barclays increased their target price on shares of BankUnited from $43.00 to $46.00 and gave the company an overweight rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reiterated a buy rating and issued a $42.00 target price on shares of BankUnited in a report on Thursday, December 14th. Finally, Morgan Stanley reiterated an overweight rating and issued a $46.00 target price on shares of BankUnited in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $42.91.
Shares of BankUnited (NYSE BKU) traded up $0.62 during mid-day trading on Friday, hitting $43.18. 696,154 shares of the stock traded hands, compared to its average volume of 899,400. The stock has a market capitalization of $4,610.00, a P/E ratio of 18.14, a P/E/G ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 0.96. BankUnited has a 52 week low of $30.37 and a 52 week high of $43.22.
BankUnited (NYSE:BKU) last announced its earnings results on Tuesday, October 31st. The financial services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The company had revenue of $294.59 million during the quarter, compared to the consensus estimate of $273.51 million. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. During the same quarter in the prior year, the company posted $0.47 earnings per share. equities research analysts predict that BankUnited will post 2.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. BankUnited’s dividend payout ratio (DPR) is presently 35.29%.
In related news, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the sale, the insider now owns 19,699 shares in the company, valued at $706,800.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BankUnited by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock worth $124,000 after buying an additional 276 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in BankUnited during the third quarter worth about $174,000. Forward Management LLC purchased a new stake in BankUnited during the third quarter worth about $192,000. QS Investors LLC increased its holdings in BankUnited by 9.6% during the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock worth $212,000 after buying an additional 550 shares during the last quarter. Finally, LaSalle Street Capital Management LLC purchased a new stake in BankUnited during the second quarter worth about $221,000. Institutional investors and hedge funds own 95.26% of the company’s stock.
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BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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