BankUnited (BKU) Given “Outperform” Rating at Wells Fargo & Co
Wells Fargo & Co restated their outperform rating on shares of BankUnited (NYSE:BKU) in a report published on Tuesday, The Fly reports. They currently have a $50.00 price target on the financial services provider’s stock, up from their previous price target of $42.00.
Several other research firms have also recently commented on BKU. ValuEngine upgraded shares of BankUnited from a hold rating to a buy rating in a report on Monday, October 2nd. Morgan Stanley reiterated an overweight rating and set a $46.00 price target on shares of BankUnited in a report on Wednesday, December 13th. JPMorgan Chase & Co. cut shares of BankUnited from a neutral rating to an underweight rating and set a $35.00 price target for the company. in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reiterated a buy rating and set a $42.00 price target on shares of BankUnited in a report on Thursday, December 14th. Finally, Barclays reiterated a buy rating and set a $42.00 price target on shares of BankUnited in a report on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $42.40.
BankUnited (BKU) traded up $0.56 during midday trading on Tuesday, reaching $41.94. 1,033,145 shares of the company’s stock traded hands, compared to its average volume of 866,500. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.86. BankUnited has a 12 month low of $30.37 and a 12 month high of $42.35. The firm has a market cap of $4,480.00, a PE ratio of 17.62, a PEG ratio of 1.73 and a beta of 1.09.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, January 11th. BankUnited’s payout ratio is 35.29%.
In other news, insider Mark Bagnoli sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total value of $35,880.00. Following the completion of the transaction, the insider now owns 19,699 shares in the company, valued at approximately $706,800.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BankUnited by 8.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock valued at $124,000 after buying an additional 276 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of BankUnited in the 3rd quarter valued at $174,000. Forward Management LLC acquired a new position in shares of BankUnited in the 3rd quarter valued at $192,000. QS Investors LLC boosted its holdings in shares of BankUnited by 9.6% in the 2nd quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock valued at $212,000 after buying an additional 550 shares in the last quarter. Finally, LaSalle Street Capital Management LLC acquired a new position in shares of BankUnited in the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 95.26% of the company’s stock.
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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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