Analysts Set BankUnited, Inc. (NYSE:BKU) Target Price at $40.70

BankUnited, Inc. (NYSE:BKU) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $41.45.

A number of research analysts have issued reports on BKU shares. Keefe, Bruyette & Woods upped their price objective on BankUnited from $38.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. 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 cut their price target on BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Compass Point increased their price target on BankUnited from $42.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company upgraded BankUnited from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $38.00 to $48.00 in a research note on Wednesday, November 13th.

BankUnited Stock Up 0.1 %

Shares of NYSE:BKU opened at $41.24 on Monday. The company has a market capitalization of $3.08 billion, a PE ratio of 16.90 and a beta of 1.36. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average price of $38.59 and a two-hundred day moving average price of $35.26. BankUnited has a 1 year low of $24.34 and a 1 year high of $44.45.

BankUnited (NYSE:BKU) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating 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 prior year, the company earned $0.63 EPS. Analysts forecast that BankUnited will post 2.89 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.29 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.16 annualized dividend and a yield of 2.81%. BankUnited’s dividend payout ratio is currently 47.54%.

Insiders Place Their Bets

In other BankUnited news, insider Jay D. Richards sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total value of $102,950.00. Following the sale, the insider now owns 34,687 shares of the company’s stock, valued at $1,428,410.66. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a legal 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 dated Friday, November 8th. The shares were 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 directly owns 100,000 shares in the company, valued at approximately $3,911,000. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. 1.19% of the stock is owned by corporate insiders.

Institutional Trading of BankUnited

Several institutional investors and hedge funds have recently modified their holdings of BKU. Millennium Management LLC raised its holdings in shares of BankUnited by 49.2% in the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock valued at $65,778,000 after acquiring an additional 740,896 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of BankUnited by 3,901.0% in the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock valued at $16,803,000 after acquiring an additional 559,720 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in shares of BankUnited in the 3rd quarter valued at about $17,745,000. Point72 Asset Management L.P. raised its holdings in shares of 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 in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of BankUnited by 3,658.4% in the 2nd quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock valued at $9,537,000 after acquiring an additional 317,143 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.