BankUnited Inc. (BKU) Given New $33.00 Price Target at Barclays PLC
BankUnited Inc. (NYSE:BKU) had its target price dropped by Barclays PLC from $34.00 to $33.00 in a research note issued on Tuesday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s price target would suggest a potential upside of 8.48% from the stock’s current price.
BKU has been the topic of several other research reports. Zacks Investment Research upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research note on Friday, June 17th. Sandler O’Neill lowered shares of BankUnited from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research note on Thursday, July 21st. Royal Bank Of Canada decreased their price objective on shares of BankUnited from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, July 21st. BMO Capital Markets reiterated a “hold” rating and issued a $34.00 price objective on shares of BankUnited in a report on Thursday, July 21st. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $37.00 price objective (down from $39.00) on shares of BankUnited in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. BankUnited has a consensus rating of “Hold” and an average price target of $35.63.
Shares of BankUnited (NYSE:BKU) traded down 2.04% on Tuesday, reaching $29.80. The company’s stock had a trading volume of 243,930 shares. BankUnited has a 1-year low of $27.85 and a 1-year high of $39.97. The stock has a 50-day moving average of $30.80 and a 200 day moving average of $31.97. The stock has a market capitalization of $3.10 billion, a PE ratio of 11.90 and a beta of 0.83.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating 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 last year, the company earned $0.43 EPS. On average, equities analysts forecast that BankUnited will post $2.10 EPS for the current year.
The company 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 of this dividend is Thursday, October 13th. BankUnited’s dividend payout ratio is 33.60%.
In related news, insider Mark Bagnoli sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $30.11, for a total value of $60,220.00. Following the completion of the transaction, the insider now owns 17,458 shares of the company’s stock, valued at approximately $525,660.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Starr sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $31.20, for a total transaction of $156,000.00. Following the completion of the transaction, the insider now directly owns 34,000 shares of the company’s stock, valued at approximately $1,060,800. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in BankUnited during the first quarter worth approximately $432,000. UBS Asset Management Americas Inc. raised its position in BankUnited by 66.4% in the first quarter. UBS Asset Management Americas Inc. now owns 616,367 shares of the financial services provider’s stock worth $21,227,000 after buying an additional 245,959 shares in the last quarter. UBS Group AG raised its position in BankUnited by 18.6% in the first quarter. UBS Group AG now owns 113,775 shares of the financial services provider’s stock worth $3,919,000 after buying an additional 17,832 shares in the last quarter. Rafferty Asset Management LLC raised its position in BankUnited by 46.4% in the first quarter. Rafferty Asset Management LLC now owns 14,181 shares of the financial services provider’s stock worth $488,000 after buying an additional 4,495 shares in the last quarter. Finally, State Street Corp raised its position in BankUnited by 2.7% in the first quarter. State Street Corp now owns 3,065,636 shares of the financial services provider’s stock worth $105,581,000 after buying an additional 79,403 shares in the last quarter. 97.02% of the stock is owned by hedge funds and other institutional investors.
BankUnited Company Profile
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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