BankUnited (NYSE:BKU) Price Target Raised to $38.00

BankUnited (NYSE:BKU) had its price target boosted by Citigroup from $36.00 to $38.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

BKU has been the subject of a number of other research reports. Royal Bank Of Canada reduced their price target on BankUnited from $42.00 to $40.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods reduced their price target on BankUnited from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. Barclays reduced their price target on BankUnited from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group cut their target price on BankUnited from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group started coverage on BankUnited in a research report on Wednesday, May 21st. They set a “hold” rating and a $39.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, BankUnited currently has a consensus rating of “Hold” and a consensus target price of $40.33.

BankUnited Stock Performance

Shares of BKU opened at $38.04 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $34.71 and a two-hundred day simple moving average of $35.83. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 11.81 and a beta of 1.29. BankUnited has a 52 week low of $28.21 and a 52 week high of $44.45.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $255.41 million during the quarter, compared to analysts’ expectations of $264.35 million. BankUnited had a return on equity of 8.66% and a net margin of 12.26%. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, analysts expect that BankUnited will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, July 11th. BankUnited’s payout ratio is presently 38.51%.

Insider Buying and Selling

In related news, CFO Leslie Lunak sold 22,776 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total transaction of $764,362.56. Following the completion of the transaction, the chief financial officer directly owned 59,899 shares of the company’s stock, valued at approximately $2,010,210.44. This represents a 27.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the transaction, the director directly owned 14,516 shares of the company’s stock, valued at approximately $499,785.88. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BankUnited

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKU. Strs Ohio bought a new position in BankUnited during the first quarter valued at approximately $28,000. Brooklyn Investment Group boosted its stake in BankUnited by 14,050.0% during the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock valued at $29,000 after buying an additional 843 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of BankUnited by 42.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,380 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 410 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of BankUnited by 165.5% in the 1st quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BankUnited in the 4th quarter valued at approximately $73,000. 99.70% of the stock is owned by institutional investors.

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.