BankUnited (NYSE:BKU) Given New $42.00 Price Target at The Goldman Sachs Group

BankUnited (NYSE:BKU) had its target price raised by The Goldman Sachs Group from $36.00 to $42.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a sell rating on the financial services provider’s stock.

Several other analysts also recently commented on BKU. Wedbush upped their price objective on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company raised shares of BankUnited from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $38.00 to $48.00 in a report on Wednesday, November 13th. Barclays lifted their price objective on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Citigroup lowered their target price on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $37.00 price target on shares of BankUnited in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, BankUnited currently has a consensus rating of “Hold” and a consensus price target of $38.70.

BankUnited Stock Performance

Shares of BKU opened at $42.68 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50-day moving average of $37.26 and a two-hundred day moving average of $34.25. The stock has a market cap of $3.19 billion, a P/E ratio of 17.49 and a beta of 1.33. BankUnited has a one year low of $24.34 and a one year high of $44.45.

BankUnited (NYSE:BKU) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $515.24 million during the quarter, compared to the consensus estimate of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, research analysts predict that BankUnited will post 2.89 EPS for the current year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, October 11th. BankUnited’s payout ratio is presently 47.54%.

Insider Buying and Selling at BankUnited

In related news, insider Jay D. Richards sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total transaction of $102,950.00. Following the completion of the transaction, the insider now owns 34,687 shares in the company, valued at $1,428,410.66. This represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Cornish sold 10,778 shares of BankUnited stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the sale, the chief operating officer now owns 100,000 shares in the company, valued at approximately $3,911,000. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of BankUnited by 49.2% during the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after buying an additional 740,896 shares in the last quarter. Bank of Montreal Can boosted its position in BankUnited by 3,901.0% during the second quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock worth $16,803,000 after acquiring an additional 559,720 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in BankUnited during the 3rd quarter valued at about $17,745,000. Point72 Asset Management L.P. raised its holdings in BankUnited by 741.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock valued at $11,628,000 after acquiring an additional 350,071 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in BankUnited by 3,658.4% in the 2nd quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock worth $9,537,000 after purchasing an additional 317,143 shares in the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.

BankUnited Company Profile

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.