BankUnited (BKU) Rating Lowered to Strong Sell at BidaskClub
BankUnited (NYSE:BKU) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.
A number of other brokerages also recently commented on BKU. Keefe, Bruyette & Woods raised shares of BankUnited from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $42.00 to $41.00 in a research report on Wednesday, April 26th. J P Morgan Chase & Co cut shares of BankUnited from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $39.00 in a report on Wednesday, April 26th. Deutsche Bank AG restated a “buy” rating and issued a $42.00 target price (down previously from $43.00) on shares of BankUnited in a report on Saturday, April 29th. BMO Capital Markets restated a “hold” rating and issued a $40.00 target price on shares of BankUnited in a report on Friday, July 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $39.00 target price (down previously from $40.00) on shares of BankUnited in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. BankUnited presently has an average rating of “Buy” and an average target price of $41.17.
Shares of BankUnited (BKU) opened at 33.21 on Tuesday. The company has a market capitalization of $3.55 billion, a PE ratio of 14.86 and a beta of 1.07. The firm’s 50-day moving average price is $33.72 and its 200 day moving average price is $35.47. BankUnited has a 52-week low of $28.13 and a 52-week high of $41.00.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 24.64% and a return on equity of 10.03%. The company had revenue of $269.48 million for the quarter, compared to the consensus estimate of $258.47 million. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities analysts forecast that BankUnited will post $2.39 earnings per share for the current year.
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In related news, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $35.08, for a total transaction of $261,170.60. Following the completion of the sale, the insider now owns 29,000 shares in the company, valued at approximately $1,017,320. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman John Adam Kanas sold 200,000 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $33.35, for a total transaction of $6,670,000.00. Following the sale, the chairman now owns 742,866 shares of the company’s stock, valued at approximately $24,774,581.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 507,845 shares of company stock valued at $16,779,391. 5.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Suntrust Banks Inc. boosted its stake in shares of BankUnited by 36.5% in the first quarter. Suntrust Banks Inc. now owns 14,014 shares of the financial services provider’s stock worth $521,000 after buying an additional 3,749 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of BankUnited during the first quarter worth $381,000. Teza Capital Management LLC acquired a new stake in shares of BankUnited during the first quarter worth $320,000. Pacer Advisors Inc. boosted its stake in shares of BankUnited by 22.2% in the first quarter. Pacer Advisors Inc. now owns 13,852 shares of the financial services provider’s stock worth $517,000 after buying an additional 2,520 shares in the last quarter. Finally, Skylands Capital LLC boosted its stake in shares of BankUnited by 6.0% in the second quarter. Skylands Capital LLC now owns 98,700 shares of the financial services provider’s stock worth $3,327,000 after buying an additional 5,600 shares in the last quarter. Hedge funds and other institutional investors own 99.90% of the company’s stock.
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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