Barclays Cuts BankUnited (NYSE:BKU) Price Target to $48.00

by · The Cerbat Gem

BankUnited (NYSE:BKUFree Report) had its target price lowered by Barclays from $50.00 to $48.00 in a research report report published on Monday morning, Marketbeat.com reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. 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 research report on Thursday, April 23rd. Raymond James Financial reiterated an “outperform” rating on shares of BankUnited in a research report on Wednesday, April 22nd. Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $56.00 price objective on shares of BankUnited in a report on Wednesday, July 15th. Finally, Citigroup cut their target price on BankUnited from $45.00 to $42.00 and set a “sell” rating for the company in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, BankUnited has an average rating of “Hold” and an average price target of $51.73.

Get Our Latest Analysis on BankUnited

BankUnited Stock Performance

NYSE BKU opened at $47.56 on Monday. The company’s 50 day moving average is $47.76 and its 200-day moving average is $47.14. BankUnited has a 12-month low of $35.10 and a 12-month high of $52.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm has a market cap of $3.46 billion, a P/E ratio of 13.03 and a beta of 1.18.

BankUnited (NYSE:BKUGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The business had revenue of $284.57 million during the quarter, compared to the consensus estimate of $290.33 million. During the same period last year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that BankUnited will post 4.09 earnings per share for the current year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, July 10th. BankUnited’s payout ratio is 36.16%.

Insider Buying and Selling at BankUnited

In related news, Director John N. Digiacomo sold 1,000 shares of BankUnited stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.97, for a total transaction of $45,970.00. Following the completion of the sale, the director owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jay D. Richards sold 4,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $48.67, for a total value of $194,680.00. Following the transaction, the insider owned 40,502 shares of the company’s stock, valued at approximately $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BKU. Eurizon Capital SGR S.p.A. purchased a new stake in BankUnited in the fourth quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new stake in BankUnited during the fourth quarter valued at approximately $35,000. Strs Ohio purchased a new position in BankUnited in the 1st quarter worth approximately $28,000. Quarry LP grew its stake in BankUnited by 158.2% in the 3rd quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after buying an additional 576 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of BankUnited by 17,050.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,372 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,364 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

BankUnited Company Profile

(Get Free Report)

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.

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