BankUnited Inc. (BKU) Given Consensus Rating of “Hold” by Brokerages
Shares of BankUnited Inc. (NYSE:BKU) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $36.00.
Several brokerages recently weighed in on BKU. JPMorgan Chase & Co. restated a “buy” rating on shares of BankUnited in a research report on Saturday, July 9th. BMO Capital Markets restated a “hold” rating and issued a $34.00 price target on shares of BankUnited in a research report on Thursday, July 21st. Royal Bank Of Canada reduced their price target on shares of BankUnited from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, July 21st. Zacks Investment Research upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Friday, June 17th. Finally, Hovde Group cut shares of BankUnited from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $33.00 to $30.00 in a research report on Thursday, July 21st.
In related news, insider Jeffrey Starr sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.20, for a total value of $156,000.00. Following the completion of the sale, the insider now directly owns 34,000 shares of the company’s stock, valued at $1,060,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Bagnoli sold 2,000 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $30.11, for a total transaction of $60,220.00. Following the completion of the sale, the insider now directly owns 17,458 shares of the company’s stock, valued at $525,660.38. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its stake in BankUnited by 30.5% in the first quarter. Glenmede Trust Co. NA now owns 9,094 shares of the financial services provider’s stock worth $312,000 after buying an additional 2,128 shares during the period. Aperio Group LLC raised its stake in BankUnited by 19.3% in the first quarter. Aperio Group LLC now owns 8,011 shares of the financial services provider’s stock worth $276,000 after buying an additional 1,296 shares during the period. IFP Advisors Inc raised its stake in BankUnited by 39.0% in the first quarter. IFP Advisors Inc now owns 3,812 shares of the financial services provider’s stock worth $131,000 after buying an additional 1,069 shares during the period. Ngam Advisors L.P. acquired a new stake in BankUnited during the first quarter worth $350,000. Finally, TIAA CREF Investment Management LLC raised its stake in BankUnited by 15.5% in the first quarter. TIAA CREF Investment Management LLC now owns 280,967 shares of the financial services provider’s stock worth $9,677,000 after buying an additional 37,759 shares during the period. 97.02% of the stock is owned by institutional investors.
BankUnited (NYSE:BKU) traded down 1.58% during midday trading on Tuesday, hitting $29.94. 200,731 shares of the stock traded hands. BankUnited has a 52-week low of $27.85 and a 52-week high of $39.97. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 11.95 and a beta of 0.83. The firm’s 50-day moving average is $30.80 and its 200-day moving average is $31.97.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. BankUnited had a net margin of 24.42% and a return on equity of 9.80%. During the same period in the previous year, the firm earned $0.43 EPS. Analysts predict that BankUnited will post $2.10 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, October 13th. BankUnited’s dividend payout ratio (DPR) is presently 33.60%.
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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