BankUnited, Inc. (BKU) Upgraded to Buy by ValuEngine
ValuEngine upgraded shares of BankUnited, Inc. (NYSE:BKU) from a hold rating to a buy rating in a research report report published on Monday.
Other equities research analysts have also issued research reports about the company. BidaskClub raised BankUnited from a strong sell rating to a sell rating in a research report on Friday, June 30th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $41.00 price target on shares of BankUnited in a report on Thursday, September 28th. Barclays PLC reaffirmed an overweight rating and issued a $41.00 price target (up from $38.00) on shares of BankUnited in a report on Wednesday, July 12th. Wedbush reiterated a neutral rating and issued a $35.00 price target on shares of BankUnited in a research note on Tuesday, June 27th. Finally, BMO Capital Markets reiterated a hold rating and issued a $40.00 price target on shares of BankUnited in a research note on Friday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $41.17.
Shares of BankUnited (NYSE BKU) opened at 35.54 on Monday. BankUnited has a 1-year low of $28.13 and a 1-year high of $41.00. The firm has a 50-day moving average price of $33.44 and a 200-day moving average price of $34.28. The stock has a market capitalization of $3.80 billion, a PE ratio of 15.90 and a beta of 1.10.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $269.48 million during the quarter, compared to the consensus estimate of $258.47 million. BankUnited had a return on equity of 9.81% and a net margin of 19.54%. During the same period in the previous year, the business earned $0.52 EPS. On average, equities research analysts forecast that BankUnited will post $2.37 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, October 13th. BankUnited’s payout ratio is currently 37.67%.
In related news, Chairman John Adam Kanas sold 100,400 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $33.05, for a total transaction of $3,318,220.00. Following the transaction, the chairman now owns 742,866 shares of the company’s stock, valued at $24,551,721.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $35.08, for a total value of $261,170.60. Following the transaction, the insider now directly owns 29,000 shares in the company, valued at approximately $1,017,320. The disclosure for this sale can be found here. Insiders sold a total of 386,035 shares of company stock worth $12,843,735 over the last ninety days. Corporate insiders own 5.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of BKU. BlackRock Inc. raised its stake in BankUnited by 14,458.5% during the 1st quarter. BlackRock Inc. now owns 4,958,929 shares of the financial services provider’s stock valued at $185,017,000 after acquiring an additional 4,924,867 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of BankUnited by 3,522.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 971,171 shares of the financial services provider’s stock valued at $32,738,000 after purchasing an additional 944,359 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of BankUnited by 11.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,666,132 shares of the financial services provider’s stock valued at $258,425,000 after purchasing an additional 792,163 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of BankUnited by 5,718.4% in the 2nd quarter. SG Americas Securities LLC now owns 687,265 shares of the financial services provider’s stock valued at $23,168,000 after purchasing an additional 675,453 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of BankUnited by 405.6% in the 1st quarter. UBS Group AG now owns 838,146 shares of the financial services provider’s stock valued at $31,271,000 after purchasing an additional 672,370 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
BankUnited Company Profile
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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