Zacks Investment Research Upgrades BankUnited Inc. (BKU) to “Hold”
BankUnited Inc. (NYSE:BKU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “BankUnited shares have significantly underperformed the Zacks categorized Major Regional Banks industry over the last six months. Mounting expenses owing to higher funding costs and M&A activities is likely to keep bottom-line under pressure in the near-term. Moreover, margin pressure is expected to continue unless there is significant change in interest rate environment. However, the company is well positioned to grow organically and through acquisitions, given its strong balance sheet position. Also, a change in deposit mix and increased proportion of commercial loans are expected to support the company’s financials, going forward.”
Several other research firms have also issued reports on BKU. Hovde Group raised shares of BankUnited from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $28.00 to $29.00 in a research report on Tuesday, November 1st. Barclays PLC lowered their price target on shares of BankUnited from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. Finally, TheStreet raised shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. BankUnited has an average rating of “Hold” and a consensus target price of $34.75.
Shares of BankUnited (NYSE:BKU) opened at 35.43 on Tuesday. BankUnited has a 12 month low of $27.85 and a 12 month high of $38.16. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 17.50 and a beta of 0.92. The firm has a 50-day moving average of $31.30 and a 200-day moving average of $31.19.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.06. BankUnited had a net margin of 19.35% and a return on equity of 9.50%. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, analysts anticipate that BankUnited will post $2.04 EPS for the current year.
In other BankUnited news, Director Eugene F. Demark sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $29.53, for a total value 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 SEC, which is available through this link. Also, insider Jeffrey Starr sold 5,000 shares of the business’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 company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in BankUnited by 28.9% in the first quarter. Envestnet Asset Management Inc. now owns 56,529 shares of the financial services provider’s stock worth $1,947,000 after buying an additional 12,672 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in BankUnited by 8.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 53,206 shares of the financial services provider’s stock worth $1,832,000 after buying an additional 4,289 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in BankUnited during the first quarter worth approximately $248,000. First Financial Bank N.A. Trust Division boosted its position in BankUnited by 5.3% in the second quarter. First Financial Bank N.A. Trust Division now owns 96,531 shares of the financial services provider’s stock worth $2,966,000 after buying an additional 4,843 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in BankUnited by 17.9% in the second quarter. GW&K Investment Management LLC now owns 319,737 shares of the financial services provider’s stock worth $9,822,000 after buying an additional 48,476 shares in the last quarter. 97.27% of the stock is owned by institutional investors and hedge funds.
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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