BankUnited, Inc. (NYSE:BKU)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a note issued to investors on Thursday. They presently have a $39.00 target price on the financial services provider’s stock, down from their previous target price of $40.00. Morgan Stanley’s price target would indicate a potential upside of 15.01% from the stock’s current price.
Several other analysts also recently weighed in on BKU. Deutsche Bank AG lowered their price target on shares of BankUnited to $43.00 in a research note on Friday, March 24th. Keefe, Bruyette & Woods set a $41.00 price target on shares of BankUnited and gave the stock a “hold” rating in a research note on Monday, April 3rd. Barclays PLC set a $42.00 price target on shares of BankUnited and gave the stock a “buy” rating in a research note on Sunday, April 9th. J P Morgan Chase & Co downgraded shares of BankUnited from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $39.00 in a research note on Wednesday, April 26th. Finally, BidaskClub raised shares of BankUnited from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. BankUnited has a consensus rating of “Buy” and a consensus price target of $39.92.
BankUnited (BKU) opened at 33.91 on Thursday. The stock has a 50 day moving average price of $33.72 and a 200-day moving average price of $36.44. BankUnited has a 52 week low of $28.13 and a 52 week high of $41.00. The company has a market capitalization of $3.62 billion, a PE ratio of 15.74 and a beta of 1.07.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $258.74 million during the quarter, compared to the consensus estimate of $260.46 million. BankUnited had a net margin of 19.38% and a return on equity of 9.66%. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts predict that BankUnited will post $2.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, July 12th. BankUnited’s dividend payout ratio (DPR) is 39.07%.
In related news, Chairman John Adam Kanas sold 102,915 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $33.92, for a total transaction of $3,490,876.80. Following the transaction, the chairman now owns 1,145,155 shares in the company, valued at $38,843,657.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 502,915 shares of company stock valued at $16,804,877. Insiders own 5.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its position in shares of BankUnited by 36.5% in the first quarter. Suntrust Banks Inc. now owns 14,014 shares of the financial services provider’s stock valued at $521,000 after buying an additional 3,749 shares in the last quarter. Norges Bank bought a new position in shares of BankUnited during the fourth quarter valued at about $36,007,000. ZWJ Investment Counsel Inc. bought a new position in shares of BankUnited during the first quarter valued at about $381,000. Teza Capital Management LLC bought a new position in shares of BankUnited during the first quarter valued at about $320,000. Finally, Parametrica Management Ltd bought a new position in shares of BankUnited during the first quarter valued at about $308,000. Institutional investors own 99.39% 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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