BankUnited, Inc. (BKU) Receives Consensus Rating of “Buy” from Analysts
Shares of BankUnited, Inc. (NYSE:BKU) have received an average recommendation of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $41.10.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Barclays PLC reissued an “overweight” rating and issued a $41.00 target price (up previously from $38.00) on shares of BankUnited in a research note on Wednesday, July 12th. Wedbush reissued a “neutral” rating and issued a $35.00 target price on shares of BankUnited in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $41.00 target price on shares of BankUnited in a research note on Friday, May 26th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $40.00 target price on shares of BankUnited in a research note on Friday, July 7th.
BankUnited (NYSE BKU) traded down 1.07% on Wednesday, hitting $33.25. The stock had a trading volume of 377,922 shares. BankUnited has a one year low of $28.13 and a one year high of $41.00. The stock has a market cap of $3.55 billion, a P/E ratio of 14.88 and a beta of 1.07. The company’s 50-day moving average is $33.69 and its 200-day moving average is $35.42.
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. The business had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, analysts anticipate that BankUnited will post $2.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.53%. BankUnited’s dividend payout ratio (DPR) is currently 37.67%.
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In other news, Chairman John Adam Kanas sold 200,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.35, for a total transaction of $6,670,000.00. Following the sale, the chairman now directly owns 742,866 shares of the company’s stock, valued at $24,774,581.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 29,000 shares in the company, valued at $1,017,320. The disclosure for this sale can be found here. Insiders have sold 586,035 shares of company stock worth $19,373,735 over the last three months. 5.10% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. boosted its stake in BankUnited by 36.5% in the first quarter. Suntrust Banks Inc. now owns 14,014 shares of the financial services provider’s stock valued at $521,000 after buying an additional 3,749 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in shares of BankUnited during the first quarter valued at $381,000. Teza Capital Management LLC acquired a new position in shares of BankUnited during the first quarter valued at $320,000. Moody Aldrich Partners LLC raised its position in shares of BankUnited by 31.6% in the second quarter. Moody Aldrich Partners LLC now owns 24,005 shares of the financial services provider’s stock valued at $809,000 after buying an additional 5,770 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position 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 valued at $517,000 after buying an additional 2,520 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors and hedge funds.
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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