Morgan Stanley Reiterates Overweight Rating for BankUnited, Inc. (BKU)

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%.

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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.

About BankUnited

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.

Analyst Recommendations for BankUnited (NYSE:BKU)

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