BankUnited (NYSE:BKU) Price Target Raised to $49.00

BankUnited (NYSE:BKU) had its price target boosted by Compass Point from $42.00 to $49.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on BKU. Wells Fargo & Company raised shares of BankUnited from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $48.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.00 price target on shares of BankUnited in a research note on Wednesday, October 23rd. Citigroup lowered their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Barclays lifted their target price on BankUnited from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods increased their price target on BankUnited from $38.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, BankUnited has an average rating of “Hold” and an average target price of $41.45.

BankUnited Stock Performance

Shares of BankUnited stock opened at $40.67 on Tuesday. The company has a market cap of $3.04 billion, a P/E ratio of 16.67 and a beta of 1.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average price of $38.71 and a two-hundred day moving average price of $35.30. BankUnited has a 1-year low of $24.34 and a 1-year high of $44.45.

BankUnited (NYSE:BKU) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The business 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 period in the previous year, the company posted $0.63 earnings per share. As a group, analysts anticipate that BankUnited will post 2.89 EPS for the current year.

BankUnited Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, October 11th. BankUnited’s dividend payout ratio is currently 47.54%.

Insider Transactions at BankUnited

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

Institutional Investors Weigh In On BankUnited

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its position in shares of BankUnited by 8.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 632,632 shares of the financial services provider’s stock valued at $18,517,000 after acquiring an additional 48,059 shares during the last quarter. Denali Advisors LLC bought a new stake in BankUnited during the second quarter valued at approximately $799,000. Alpha DNA Investment Management LLC purchased a new position in BankUnited in the 3rd quarter worth approximately $443,000. Intech Investment Management LLC bought a new position in shares of BankUnited in the 2nd quarter worth $515,000. Finally, BNP Paribas Financial Markets raised its position in shares of BankUnited by 211.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 59,594 shares of the financial services provider’s stock valued at $2,172,000 after buying an additional 40,461 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

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.