Hovde Group Increases BankUnited (NYSE:BKU) Price Target to $41.00

BankUnited (NYSE:BKU) had its price objective lifted by Hovde Group from $33.00 to $41.00 in a report released on Friday, Marketbeat reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price objective on BankUnited from $29.00 to $31.00 and gave the company a sector perform rating in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their price objective on BankUnited from $28.00 to $32.00 and gave the company an equal weight rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price objective on BankUnited from $33.00 to $31.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Barclays boosted their price objective on BankUnited from $29.00 to $30.00 and gave the company an equal weight rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their price objective on BankUnited from $33.00 to $34.50 and gave the company a neutral rating in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $33.68.

BankUnited Trading Up 1.3 %

NYSE BKU opened at $37.34 on Friday. The business’s 50-day moving average price is $29.52 and its two-hundred day moving average price is $28.28. BankUnited has a 12 month low of $20.84 and a 12 month high of $37.85. The firm has a market capitalization of $2.79 billion, a PE ratio of 16.09 and a beta of 1.35. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 1.22.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.65 million. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts expect that BankUnited will post 2.82 EPS for the current year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Friday, July 12th. BankUnited’s dividend payout ratio (DPR) is currently 50.00%.

Insider Buying and Selling

In other news, Director John N. Digiacomo sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total value of $43,920.00. Following the completion of the sale, the director now directly owns 13,482 shares of the company’s stock, valued at $394,752.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.19% of the stock is owned by company insiders.

Institutional Trading of BankUnited

Several institutional investors and hedge funds have recently modified their holdings of the stock. Inspire Investing LLC raised its stake in shares of BankUnited by 6.8% in the first quarter. Inspire Investing LLC now owns 12,632 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 807 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of BankUnited by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 65,090 shares of the financial services provider’s stock valued at $1,823,000 after acquiring an additional 896 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of BankUnited by 0.8% in the first quarter. Russell Investments Group Ltd. now owns 112,849 shares of the financial services provider’s stock valued at $3,160,000 after acquiring an additional 906 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of BankUnited by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 58,053 shares of the financial services provider’s stock valued at $1,699,000 after acquiring an additional 938 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of BankUnited by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,002 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 1,031 shares in the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

BankUnited Company Profile

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.