BankUnited’s (NYSE:BKU) Outperform Rating Reiterated at Wells Fargo & Co

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.

The Fly

Analyst Recommendations for BankUnited (NYSE:BKU)

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