JMP Securities began coverage on shares of BankUnited (NYSE:BKU) in a research note released on Tuesday, January 9th. The brokerage issued an outperform rating on the financial services provider’s stock.
Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated a buy rating and issued a $42.00 price objective on shares of BankUnited in a report on Thursday, December 14th. Barclays reiterated a buy rating and issued a $42.00 price objective on shares of BankUnited in a report on Tuesday, December 5th. ValuEngine upgraded BankUnited from a hold rating to a buy rating in a report on Monday, October 2nd. Deutsche Bank reduced their price target on BankUnited from $42.00 to $40.00 and set a hold rating on the stock in a report on Wednesday, November 8th. Finally, BMO Capital Markets upgraded BankUnited from a market perform rating to an outperform rating in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $43.09.
Shares of BankUnited (NYSE BKU) traded down $0.04 during mid-day trading on Tuesday, reaching $41.04. The company’s stock had a trading volume of 834,131 shares, compared to its average volume of 1,025,063. 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 $43.84. The company has a market capitalization of $4,452.36, a price-to-earnings ratio of 7.36, a P/E/G ratio of 1.49 and a beta of 1.09.
BankUnited (NYSE:BKU) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.24. The firm had revenue of $285.37 million during the quarter, compared to analyst estimates of $270.33 million. BankUnited had a return on equity of 11.30% and a net margin of 45.09%. During the same quarter in the previous year, the company posted $0.59 earnings per share. equities analysts expect that BankUnited will post 3.17 earnings per share for the current fiscal year.
BankUnited declared that its board has authorized a share repurchase program on Tuesday, January 23rd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders 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 dividend yield of 2.05%. BankUnited’s dividend payout ratio (DPR) is 15.05%.
In other news, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total value of $35,880.00. Following the sale, the insider now directly owns 19,699 shares of the company’s stock, valued at approximately $706,800.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas J. Pauls sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total value of $1,684,800.00. Following the completion of the sale, the director now directly owns 31,380 shares in the company, valued at $1,321,725.60. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of BKU. JPMorgan Chase & Co. boosted its position in shares of BankUnited by 30.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,701,440 shares of the financial services provider’s stock worth $167,747,000 after purchasing an additional 1,106,515 shares in the last quarter. Brown Advisory Inc. bought a new position in BankUnited in the 3rd quarter valued at approximately $24,703,000. NWQ Investment Management Company LLC bought a new position in BankUnited in the 3rd quarter valued at approximately $18,498,000. Jennison Associates LLC lifted its position in BankUnited by 20.6% in the 4th quarter. Jennison Associates LLC now owns 2,907,755 shares of the financial services provider’s stock valued at $118,404,000 after acquiring an additional 496,381 shares in the last quarter. Finally, LSV Asset Management lifted its position in BankUnited by 180.4% in the 2nd quarter. LSV Asset Management now owns 750,354 shares of the financial services provider’s stock valued at $25,294,000 after acquiring an additional 482,754 shares in the last quarter. 95.95% of the stock is currently owned by hedge funds and other institutional investors.
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BankUnited Company Profile
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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