BankUnited (NYSE:BKU) Price Target Raised to $56.00

by · The Markets Daily

BankUnited (NYSE:BKUFree Report) had its price target boosted by Cantor Fitzgerald from $51.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts also recently commented on the stock. Raymond James Financial set a $55.00 price objective on shares of BankUnited in a research report on Wednesday, January 21st. Susquehanna raised BankUnited to a “positive” rating in a report on Wednesday, January 21st. Barclays upped their price objective on BankUnited from $47.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Zacks Research upgraded BankUnited from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Finally, Wells Fargo & Company boosted their price target on BankUnited from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.55.

Check Out Our Latest Research Report on BankUnited

BankUnited Stock Performance

Shares of BKU opened at $46.51 on Tuesday. The business has a 50-day simple moving average of $47.49 and a two-hundred day simple moving average of $42.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.51. BankUnited has a 52 week low of $28.21 and a 52 week high of $52.11. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 13.14 and a beta of 1.29.

BankUnited (NYSE:BKUGet Free Report) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.The firm had revenue of $260.80 million for the quarter, compared to analysts’ expectations of $279.76 million. During the same period in the previous year, the firm earned $0.91 EPS. On average, analysts expect that BankUnited will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 9th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.24 dividend on an annualized basis and a yield of 2.7%. BankUnited’s payout ratio is presently 35.03%.

Insider Transactions at BankUnited

In other news, insider Kevin A. Malcolm sold 3,447 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $47.11, for a total transaction of $162,388.17. Following the completion of the transaction, the insider directly owned 11,500 shares in the company, valued at approximately $541,765. This represents a 23.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay D. Richards sold 3,506 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $49.83, for a total transaction of $174,703.98. Following the completion of the sale, the insider owned 35,687 shares in the company, valued at $1,778,283.21. This represents a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,953 shares of company stock valued at $591,492 in the last ninety days. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HoldCo Asset Management LP raised its position in BankUnited by 277.3% during the fourth quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider’s stock valued at $157,568,000 after purchasing an additional 2,598,382 shares during the period. Artemis Investment Management LLP bought a new position in shares of BankUnited during the 4th quarter valued at approximately $73,655,000. Millennium Management LLC raised its holdings in BankUnited by 1,066.9% during the 4th quarter. Millennium Management LLC now owns 1,399,655 shares of the financial services provider’s stock valued at $62,383,000 after buying an additional 1,279,712 shares during the period. UBS Group AG lifted its position in BankUnited by 398.0% in the fourth quarter. UBS Group AG now owns 1,170,378 shares of the financial services provider’s stock worth $52,164,000 after buying an additional 935,370 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in BankUnited by 73.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider’s stock worth $68,728,000 after buying an additional 652,926 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

About BankUnited

(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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