Hovde Group Cuts BankUnited (NYSE:BKU) Price Target to $53.00

BankUnited (NYSE:BKU) had its price target cut by Hovde Group from $55.00 to $53.00 in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. Weiss Ratings upgraded BankUnited from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Keefe, Bruyette & Woods dropped their target price on BankUnited from $55.00 to $50.00 and set a “market perform” rating on the stock in a report on Thursday, April 23rd. Barclays reduced their price target on shares of BankUnited from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Zacks Research lowered shares of BankUnited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $56.00 price target on shares of BankUnited in a report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.00.

BankUnited Price Performance

BKU opened at $46.01 on Monday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 12.61 and a beta of 1.17. The stock has a fifty day moving average of $47.71 and a 200-day moving average of $47.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. BankUnited has a 12-month low of $34.79 and a 12-month high of $52.11.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The business had revenue of $284.57 million for the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. Equities analysts forecast that BankUnited will post 4.09 EPS for the current fiscal year.

BankUnited Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. BankUnited’s dividend payout ratio (DPR) is presently 36.16%.

Insider Transactions at BankUnited

In other news, insider Jay D. Richards sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares of the company’s stock, valued at $1,971,232.34. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of BankUnited stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.97, for a total value of $45,970.00. Following the sale, the director owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Large investors have recently made changes to their positions in the company. Strs Ohio bought a new position in BankUnited during the first quarter valued at approximately $28,000. Eurizon Capital SGR S.p.A. bought a new stake in BankUnited in the fourth quarter worth approximately $30,000. Kestra Advisory Services LLC bought a new stake in BankUnited in the fourth quarter worth approximately $35,000. Quarry LP grew its position in BankUnited by 158.2% in the third quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 576 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of BankUnited by 141.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,531 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 898 shares during the last quarter. Institutional investors own 99.70% of the company’s stock.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.