BankUnited Inc. (NYSE:BKU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “BankUnited's third-quarter 2016 earnings lagged the Zacks Consensus Estimate due to higher expenses and provisions as well as a fall in non-interest income. However, rising net interest income and loans along with deposit balances were among the positives. The company remains well positioned to capitalize on available opportunities and grow inorganically on the back of its healthy balance sheet position. Also, as the company is changing its deposit mix, management expects it to positively impact net interest margins in the near term. However, mounting expenses owing to higher funding costs and M&A activities is likely to keep bottom-line under pressure in the near term. Further, the company’s high dependence on residential mortgage loans makes us apprehensive.”

BKU has been the subject of a number of other research reports. Barclays PLC cut their price objective on shares of BankUnited from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, October 11th. TheStreet upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a report on Wednesday, November 9th. Finally, Hovde Group upgraded shares of BankUnited from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $28.00 to $29.00 in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $34.75.

Analyst Recommendations for BankUnited (NYSE:BKU)

Shares of BankUnited (NYSE:BKU) opened at 35.47 on Monday. The company has a market cap of $3.69 billion, a P/E ratio of 17.52 and a beta of 0.92. BankUnited has a 1-year low of $27.85 and a 1-year high of $38.21. The stock’s 50 day moving average is $30.73 and its 200 day moving average is $31.15.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.06. BankUnited had a return on equity of 9.50% and a net margin of 19.35%. During the same quarter last year, the company posted $0.50 EPS. On average, analysts predict that BankUnited will post $2.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Monday, October 17th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.37%. BankUnited’s payout ratio is currently 41.58%.

In related news, Director Eugene F. Demark sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00. Following the completion of the transaction, the director now owns 16,682 shares of the company’s stock, valued at approximately $492,619.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Starr sold 5,000 shares of the 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 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. Corporate insiders own 5.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of BKU. Price T Rowe Associates Inc. MD boosted its position in BankUnited by 11.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,471,729 shares of the financial services provider’s stock worth $225,646,000 after buying an additional 779,298 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of BankUnited during the third quarter valued at approximately $492,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of BankUnited by 805.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 67,004 shares of the financial services provider’s stock valued at $2,023,000 after buying an additional 59,604 shares in the last quarter. Credit Suisse AG boosted its position in shares of BankUnited by 679.7% in the third quarter. Credit Suisse AG now owns 1,222,034 shares of the financial services provider’s stock valued at $36,905,000 after buying an additional 1,065,293 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of BankUnited during the third quarter valued at approximately $489,000. 95.89% of the stock is owned by hedge funds and other institutional investors.

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About BankUnited

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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