Barclays Raises BankUnited (NYSE:BKU) Price Target to $39.00

30 Sep 2024, 06:36 by Mitch Edgeman · The Markets Daily

BankUnited (NYSE:BKU – Free Report) had its price target lifted by Barclays from $35.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Hovde Group lifted their price objective on shares of BankUnited from $33.00 to $41.00 and gave the company an outperform rating in a report on Friday, July 19th. Citigroup cut their price target 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. Wells Fargo & Company boosted their price target on shares of BankUnited from $32.00 to $35.00 and gave the stock an equal weight rating in a report on Monday, July 22nd. Wedbush boosted their price target on shares of BankUnited from $39.00 to $40.00 and gave the stock a neutral rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BankUnited from $34.50 to $41.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Two investment 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, BankUnited currently has a consensus rating of Hold and an average price target of $35.50.

Read Our Latest Stock Analysis on BankUnited

BankUnited Stock Down 0.4 %

BankUnited stock opened at $35.56 on Friday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 15.33 and a beta of 1.33. The firm’s fifty day moving average price is $36.62 and its two-hundred day moving average price is $31.26. BankUnited has a 1-year low of $20.84 and a 1-year high of $39.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.22.

BankUnited (NYSE:BKU – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, equities research analysts predict that BankUnited will post 2.88 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, October 11th. BankUnited’s dividend payout ratio is 50.00%.

Insiders Place Their Bets

In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total value of $127,750.00. Following the sale, the director now owns 43,654 shares of the company’s stock, valued at $1,593,371. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jay D. Richards sold 10,143 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 37,187 shares of the company’s stock, valued at $1,361,416.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the completion of the sale, the director now directly owns 43,654 shares in the company, valued at approximately $1,593,371. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,507 shares of company stock valued at $802,400. Company insiders own 1.19% of the company’s stock.

Institutional Trading of BankUnited

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BankUnited in the second quarter valued at approximately $169,000. Point72 Asset Management L.P. increased its holdings in BankUnited by 741.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock worth $11,628,000 after acquiring an additional 350,071 shares during the period. Algert Global LLC increased its holdings in BankUnited by 7.2% during the 2nd quarter. Algert Global LLC now owns 249,183 shares of the financial services provider’s stock worth $7,294,000 after acquiring an additional 16,751 shares during the period. The Manufacturers Life Insurance Company increased its holdings in BankUnited by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,438 shares of the financial services provider’s stock worth $1,213,000 after acquiring an additional 2,778 shares during the period. Finally, Millennium Management LLC increased 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 acquiring an additional 740,896 shares during the period. Institutional investors own 99.70% of the company’s stock.

About BankUnited

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