BankUnited (NYSE:BKU) had its target price lowered by BMO Capital Markets from $45.00 to $40.00 in a research note released on Monday morning. The firm currently has an outperform rating on the financial services provider’s stock.
A number of other brokerages also recently weighed in on BKU. Sandler O’Neill set a $47.00 price objective on shares of BankUnited and gave the company a buy rating in a research report on Wednesday, July 25th. Morgan Stanley lowered their price objective on shares of BankUnited from $48.00 to $46.00 and set an overweight rating on the stock in a research report on Tuesday, July 31st. ValuEngine downgraded shares of BankUnited from a hold rating to a sell rating in a research report on Monday, September 24th. Barclays lowered their price objective on shares of BankUnited from $49.00 to $45.00 and set an overweight rating on the stock in a research report on Wednesday, October 3rd. Finally, Zacks Investment Research upgraded shares of BankUnited from a sell rating to a hold rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $42.83.
Shares of NYSE:BKU traded up $0.48 during trading on Monday, reaching $33.62. 10,547 shares of the stock traded hands, compared to its average volume of 1,235,478. BankUnited has a 52-week low of $29.86 and a 52-week high of $44.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.64. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.12 and a beta of 0.97.
BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. The company had revenue of $290.70 million for the quarter, compared to the consensus estimate of $292.57 million. BankUnited had a net margin of 46.00% and a return on equity of 11.91%. During the same quarter in the prior year, the firm earned $0.62 earnings per share. As a group, sell-side analysts anticipate that BankUnited will post 3.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.84 annualized dividend and a yield of 2.50%. BankUnited’s payout ratio is presently 31.70%.
In other news, insider Mark Bagnoli sold 1,000 shares of the stock in a transaction on Friday, October 26th. The shares were sold at an average price of $31.82, for a total value of $31,820.00. Following the completion of the sale, the insider now directly owns 24,118 shares of the company’s stock, valued at $767,434.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas M. Cornish sold 10,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $40.02, for a total transaction of $400,200.00. Following the completion of the sale, the chief operating officer now directly owns 90,249 shares of the company’s stock, valued at $3,611,764.98. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the business. Virginia Retirement Systems ET AL purchased a new position in shares of BankUnited in the 3rd quarter worth $1,281,000. American Century Companies Inc. lifted its holdings in shares of BankUnited by 16.2% in the 3rd quarter. American Century Companies Inc. now owns 1,425,611 shares of the financial services provider’s stock worth $50,467,000 after acquiring an additional 198,614 shares during the last quarter. Cadence Capital Management LLC lifted its holdings in shares of BankUnited by 56.0% in the 3rd quarter. Cadence Capital Management LLC now owns 14,101 shares of the financial services provider’s stock worth $499,000 after acquiring an additional 5,061 shares during the last quarter. Gator Capital Management LLC bought a new stake in shares of BankUnited in the 3rd quarter worth about $460,000. Finally, CIBC Asset Management Inc lifted its holdings in shares of BankUnited by 18.4% in the 3rd quarter. CIBC Asset Management Inc now owns 43,503 shares of the financial services provider’s stock worth $1,540,000 after acquiring an additional 6,770 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.
BankUnited Company Profile
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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