BankUnited, Inc. (BKU) Upgraded to “Outperform” at BMO Capital Markets
BMO Capital Markets upgraded shares of BankUnited, Inc. (NYSE:BKU) from a market perform rating to an outperform rating in a research report report published on Monday, MarketBeat.com reports.
BKU has been the subject of a number of other reports. Deutsche Bank AG decreased their price objective on BankUnited from $42.00 to $40.00 and set a hold rating for the company in a research report on Wednesday, November 8th. ValuEngine lowered BankUnited from a buy rating to a hold rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods restated a buy rating and set a $41.00 price objective on shares of BankUnited in a research report on Thursday, September 28th. J P Morgan Chase & Co lowered BankUnited from a neutral rating to an underweight rating and set a $35.00 price objective for the company. in a research report on Wednesday, November 1st. Finally, Zacks Investment Research lowered BankUnited from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. BankUnited currently has an average rating of Hold and an average target price of $40.27.
BankUnited (NYSE:BKU) opened at $35.79 on Monday. The stock has a market capitalization of $3,841.26, a PE ratio of 15.11, a P/E/G ratio of 1.70 and a beta of 1.08. BankUnited has a fifty-two week low of $30.37 and a fifty-two week high of $41.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86.
BankUnited (NYSE:BKU) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. BankUnited had a return on equity of 10.23% and a net margin of 19.82%. The firm had revenue of $294.59 million for the quarter, compared to analyst estimates of $273.51 million. During the same period in the previous year, the company earned $0.47 earnings per share. analysts anticipate that BankUnited will post 2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.35%. BankUnited’s dividend payout ratio is 35.29%.
In other news, insider Mark Bagnoli sold 1,000 shares of BankUnited stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the sale, the insider now directly owns 19,699 shares in the company, valued at approximately $706,800.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.10% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in BKU. Vanguard Group Inc. raised its stake in shares of BankUnited by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock valued at $295,602,000 after acquiring an additional 300,744 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in 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 worth $258,425,000 after buying an additional 792,163 shares during the period. JPMorgan Chase & Co. increased its position in BankUnited by 30.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,701,440 shares of the financial services provider’s stock worth $167,747,000 after buying an additional 1,106,515 shares during the period. State Street Corp increased its position in BankUnited by 5.4% in the 2nd quarter. State Street Corp now owns 4,027,935 shares of the financial services provider’s stock worth $135,782,000 after buying an additional 207,520 shares during the period. Finally, Jennison Associates LLC increased its position in BankUnited by 16.7% in the 3rd quarter. Jennison Associates LLC now owns 2,411,374 shares of the financial services provider’s stock worth $85,773,000 after buying an additional 345,760 shares during the period. Institutional investors and hedge funds own 94.74% of the company’s stock.
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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