BankUnited (NYSE:BKU) PT Raised to $40.00 at Wedbush

BankUnited (NYSE:BKU) had its price target upped by Wedbush from $39.00 to $40.00 in a report released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for BankUnited’s Q4 2024 earnings at $0.76 EPS, FY2024 earnings at $2.87 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.91 EPS, FY2025 earnings at $3.30 EPS and FY2026 earnings at $3.60 EPS.

Several other equities analysts have also commented on the stock. Royal Bank of Canada upped their price target on shares of BankUnited from $29.00 to $31.00 and gave the stock a sector perform rating in a research report on Tuesday, July 9th. Hovde Group lifted their price target on shares of BankUnited from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Friday, July 19th. JPMorgan Chase & Co. boosted their price target on BankUnited from $34.50 to $41.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Barclays increased their price objective on shares of BankUnited from $30.00 to $35.00 and gave the company an equal weight rating in a research note on Monday, July 22nd. Finally, Citigroup lowered their price objective on BankUnited from $42.00 to $39.00 and set a neutral rating for the company in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $35.10.

BankUnited Trading Up 1.2 %

Shares of BankUnited stock opened at $35.71 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The company’s 50-day simple moving average is $36.65 and its 200-day simple moving average is $31.15. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 15.39 and a beta of 1.33. BankUnited has a 52-week low of $20.84 and a 52-week high of $39.51.

BankUnited (NYSE:BKU) last issued its quarterly earnings data 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. The firm had revenue of $250.20 million for 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 firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities research analysts anticipate that BankUnited will post 2.88 earnings per share for the current year.

BankUnited Dividend Announcement

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

Insiders Place Their Bets

In other 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 transaction of $303,314.48. Following the completion of the transaction, the director now directly owns 10,282 shares in the company, valued at $396,576.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total transaction of $371,335.23. Following the sale, the insider now directly owns 37,187 shares of the company’s stock, valued at $1,361,416.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William S. Rubenstein sold 7,864 shares of the business’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 completion of the transaction, the director now directly owns 10,282 shares in the company, valued at $396,576.74. The disclosure for this sale can be found here. Insiders sold a total of 21,507 shares of company stock valued at $802,400 in the last quarter. Insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BankUnited during the second quarter valued at $169,000. Point72 Asset Management L.P. grew its stake in BankUnited by 741.7% in the second quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock valued at $11,628,000 after acquiring an additional 350,071 shares during the period. Algert Global LLC lifted its holdings in shares of BankUnited by 7.2% during the 2nd quarter. Algert Global LLC now owns 249,183 shares of the financial services provider’s stock valued at $7,294,000 after purchasing an additional 16,751 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake 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 purchasing an additional 2,778 shares in the last quarter. Finally, Millennium Management LLC raised 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 buying an additional 740,896 shares during the period. Institutional investors own 99.70% of the company’s stock.

About BankUnited

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.