BankUnited (NYSE:BKU) PT Raised to $38.00 at Wells Fargo & Company

BankUnited (NYSE:BKU) had its target price boosted by Wells Fargo & Company from $35.00 to $38.00 in a report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their target price on BankUnited from $34.50 to $41.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. Barclays upped their price objective on shares of BankUnited from $35.00 to $39.00 and gave the stock an equal weight rating in a research report on Friday, September 27th. Citigroup decreased their target price on shares of BankUnited from $42.00 to $39.00 and set a neutral rating on the stock in a report on Wednesday, September 11th. Hovde Group upped their price target on shares of BankUnited from $33.00 to $41.00 and gave the stock an outperform rating in a report on Friday, July 19th. Finally, Royal Bank of Canada lifted their price objective on shares of BankUnited from $29.00 to $31.00 and gave the company a sector perform rating in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $35.80.

BankUnited Trading Up 0.4 %

BKU stock opened at $34.88 on Tuesday. BankUnited has a 52 week low of $20.84 and a 52 week high of $39.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87. The company’s 50-day simple moving average is $36.50 and its 200 day simple moving average is $31.41. The company has a market capitalization of $2.61 billion, a PE ratio of 15.03 and a beta of 1.33.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. The company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, sell-side analysts anticipate that BankUnited will post 2.88 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, October 11th. BankUnited’s payout ratio is 50.00%.

Insider Buying and Selling at BankUnited

In other news, insider Jay D. Richards sold 10,143 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the transaction, the insider now directly owns 37,187 shares in the company, valued at $1,361,416.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jay D. Richards sold 10,143 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.61, for a total transaction of $371,335.23. Following the sale, the insider now owns 37,187 shares in the company, valued at approximately $1,361,416.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total value of $303,314.48. Following the completion of the transaction, the director now owns 10,282 shares of the company’s stock, valued at $396,576.74. The disclosure for this sale can be found here. Insiders have sold 21,507 shares of company stock worth $802,400 over the last quarter. Corporate insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of BankUnited by 3.1% during the first quarter. Vanguard Group Inc. now owns 9,483,630 shares of the financial services provider’s stock valued at $265,542,000 after acquiring an additional 280,993 shares during the last quarter. Dimensional Fund Advisors LP raised its position in BankUnited by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,583,059 shares of the financial services provider’s stock worth $134,144,000 after purchasing an additional 315,872 shares during the last quarter. Millennium Management LLC lifted its holdings in BankUnited by 49.2% during the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after buying an additional 740,896 shares during the period. Jennison Associates LLC grew its position in shares of BankUnited by 6.4% in the 1st quarter. Jennison Associates LLC now owns 1,552,387 shares of the financial services provider’s stock valued at $43,467,000 after buying an additional 93,119 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of BankUnited by 17.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 935,237 shares of the financial services provider’s stock valued at $30,330,000 after buying an additional 136,291 shares during the period. 99.70% of the stock is currently owned by institutional investors and hedge funds.

BankUnited Company Profile

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.