BankUnited (NYSE:BKU) Given New $38.00 Price Target at Wells Fargo & Company

by · The Markets Daily

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

Other research analysts have also issued research reports about the stock. Citigroup dropped their price objective on shares of BankUnited from $42.00 to $39.00 and set a neutral rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price target on shares of BankUnited from $29.00 to $31.00 and gave the stock a sector perform rating in a research note on Tuesday, July 9th. Barclays upped their price objective on BankUnited from $35.00 to $39.00 and gave the stock an equal weight rating in a research report on Friday, September 27th. Wedbush lifted their target price on BankUnited from $39.00 to $40.00 and gave the company a neutral rating in a report on Tuesday, September 24th. Finally, Hovde Group upped their price target on BankUnited from $33.00 to $41.00 and gave the stock an outperform rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $35.80.

Read Our Latest Report on BankUnited

BankUnited Stock Up 2.4 %

NYSE:BKU opened at $35.70 on Tuesday. BankUnited has a 52 week low of $21.02 and a 52 week high of $39.51. The stock’s fifty day moving average is $36.44 and its two-hundred day moving average is $31.44. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 15.39 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22.

BankUnited (NYSE:BKU – Get Free Report) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. BankUnited’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. Research analysts anticipate that BankUnited will post 2.88 EPS for the current year.

BankUnited Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, October 11th. BankUnited’s payout ratio is 50.00%.

Insider Activity

In related news, Director William S. Rubenstein sold 7,864 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total value of $303,314.48. Following the sale, the director now owns 10,282 shares in the company, valued at $396,576.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director William S. Rubenstein sold 7,864 shares of the business’s 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 approximately $396,576.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay D. Richards sold 10,143 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $36.61, for a total value of $371,335.23. Following the completion of the transaction, the insider now owns 37,187 shares of the company’s stock, valued at $1,361,416.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,507 shares of company stock valued at $802,400 in the last three months. 1.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BankUnited

A number of institutional investors have recently added to or reduced their stakes in BKU. CWM LLC grew its position in shares of BankUnited by 307.6% during the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,455 shares during the last quarter. Headlands Technologies LLC acquired a new stake in BankUnited in the 1st quarter valued at about $57,000. Meeder Asset Management Inc. purchased a new position in BankUnited in the 2nd quarter worth about $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in BankUnited during the 2nd quarter worth approximately $169,000. Finally, Picton Mahoney Asset Management acquired a new position in BankUnited in the 2nd quarter valued at approximately $175,000. Institutional investors and hedge funds own 99.70% of the company’s stock.

BankUnited Company Profile

(Get Free Report)

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.

Featured Articles