ValuEngine Lowers BankUnited, Inc. (BKU) to Hold
ValuEngine cut shares of BankUnited, Inc. (NYSE:BKU) from a buy rating to a hold rating in a research note issued to investors on Friday.
Several other research firms have also issued reports on BKU. BidaskClub raised shares of BankUnited from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. BMO Capital Markets reissued a hold rating and issued a $40.00 price target on shares of BankUnited in a research report on Friday, July 7th. Morgan Stanley reissued an overweight rating and issued a $39.00 price target (down previously from $40.00) on shares of BankUnited in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reissued a buy rating and issued a $41.00 price target on shares of BankUnited in a research report on Friday, May 26th. Finally, Barclays PLC reissued an overweight rating and issued a $41.00 price target (up previously from $38.00) on shares of BankUnited in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. BankUnited has a consensus rating of Buy and a consensus target price of $41.17.
BankUnited (NYSE:BKU) opened at 33.49 on Friday. BankUnited has a 52 week low of $28.13 and a 52 week high of $41.00. The firm has a market capitalization of $3.58 billion, a P/E ratio of 14.98 and a beta of 1.07. The firm has a 50-day moving average price of $33.67 and a 200-day moving average price of $35.23.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. The firm had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. Equities analysts forecast that BankUnited will post $2.39 EPS for the current year.
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In other BankUnited news, insider Jeffrey Starr sold 7,445 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,017,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman John Adam Kanas sold 200,000 shares of the company’s stock in a transaction dated 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 directly owns 742,866 shares in the company, valued at $24,774,581.10. 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 ninety days. Insiders own 5.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Suntrust Banks Inc. grew its stake in BankUnited by 36.5% during 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 during the last quarter. ZWJ Investment Counsel Inc. bought a new stake in BankUnited during the first quarter worth about $381,000. Teza Capital Management LLC bought a new stake in BankUnited during the first quarter worth about $320,000. Moody Aldrich Partners LLC grew its stake in BankUnited by 31.6% during the second quarter. Moody Aldrich Partners LLC now owns 24,005 shares of the financial services provider’s stock worth $809,000 after buying an additional 5,770 shares during the last quarter. Finally, Comerica Bank grew its stake in BankUnited by 7.4% during the second quarter. Comerica Bank now owns 224,682 shares of the financial services provider’s stock worth $7,451,000 after buying an additional 15,437 shares during the last quarter. 98.58% of the stock is currently owned by hedge funds and other institutional investors.
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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