Wells Fargo & Co reaffirmed their outperform rating on shares of BankUnited (NYSE:BKU) in a research note released on Tuesday, January 9th, The Fly reports. Wells Fargo & Co currently has a $50.00 price objective on the financial services provider’s stock, up from their previous price objective of $42.00.
Several other equities analysts also recently issued reports on BKU. Morgan Stanley reaffirmed an overweight rating and set a $46.00 price target on shares of BankUnited in a research note on Wednesday, December 13th. Barclays reaffirmed a buy rating and set a $42.00 price target on shares of BankUnited in a research note on Tuesday, December 5th. JPMorgan Chase & Co. downgraded shares of BankUnited from a neutral rating to an underweight rating and set a $35.00 price target for the company. in a research note on Wednesday, November 1st. BMO Capital Markets raised shares of BankUnited from a market perform rating to an outperform rating in a research note on Monday, November 20th. Finally, Deutsche Bank decreased their price target on shares of BankUnited from $42.00 to $40.00 and set a hold rating for the company in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. BankUnited presently has an average rating of Buy and a consensus price target of $43.09.
Shares of BankUnited (NYSE BKU) opened at $41.17 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86. The stock has a market cap of $4,482.28, a P/E ratio of 15.83, a P/E/G ratio of 1.50 and a beta of 1.01. BankUnited has a 52-week low of $30.37 and a 52-week high of $43.84.
BankUnited (NYSE:BKU) last posted 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. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. The business had revenue of $285.37 million for the quarter, compared to analyst estimates of $270.33 million. During the same quarter last year, the business posted $0.59 EPS. analysts forecast that BankUnited will post 3.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, January 11th. BankUnited’s dividend payout ratio is currently 15.05%.
BankUnited declared that its Board of Directors has initiated a share repurchase plan on Tuesday, January 23rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Mark Bagnoli sold 1,000 shares of the business’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 transaction, the insider now directly owns 19,699 shares in the company, valued at $706,800.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Pauls sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the transaction, the director now owns 31,380 shares in the company, valued at $1,321,725.60. The disclosure for this sale can be found here. 5.10% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in BankUnited by 3.6% during the second quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock worth $295,602,000 after purchasing an additional 300,744 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in BankUnited by 30.8% during the third 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 during the last quarter. State Street Corp boosted its holdings in BankUnited by 5.4% during the second quarter. State Street Corp now owns 4,027,935 shares of the financial services provider’s stock worth $135,782,000 after purchasing an additional 207,520 shares during the last quarter. Jennison Associates LLC boosted its holdings in BankUnited by 20.6% during the fourth quarter. Jennison Associates LLC now owns 2,907,755 shares of the financial services provider’s stock worth $118,404,000 after purchasing an additional 496,381 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its holdings in BankUnited by 1.2% during the fourth quarter. Douglas Lane & Associates LLC now owns 1,884,024 shares of the financial services provider’s stock worth $76,717,000 after purchasing an additional 21,442 shares during the last quarter. Institutional investors and hedge funds own 95.95% of the company’s stock.
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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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