Compass Point Issues Positive Forecast for BankUnited (NYSE:BKU) Stock Price

BankUnited (NYSE:BKU) had its price target lifted by analysts at Compass Point from $42.00 to $49.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Compass Point’s price objective would indicate a potential upside of 18.39% from the stock’s previous close.

A number of other brokerages have also commented on BKU. The Goldman Sachs Group boosted their price objective on shares of BankUnited from $36.00 to $42.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Wedbush boosted their price objective on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Barclays boosted their price objective on shares of BankUnited from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.00 price objective on shares of BankUnited in a research report on Wednesday, October 23rd. Finally, Citigroup lowered their price objective on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.45.

BankUnited Price Performance

Shares of BKU stock traded down $0.08 during mid-day trading on Tuesday, reaching $41.39. The stock had a trading volume of 21,303 shares, compared to its average volume of 805,092. BankUnited has a 12-month low of $24.34 and a 12-month high of $44.45. The company has a market cap of $3.09 billion, a P/E ratio of 16.96 and a beta of 1.36. The business has a 50-day simple moving average of $38.34 and a 200 day simple moving average of $35.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $515.24 million for the quarter, compared to analyst estimates of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same quarter last year, the company earned $0.63 earnings per share. On average, sell-side analysts anticipate that BankUnited will post 2.89 earnings per share for the current year.

Insider Transactions at BankUnited

In related news, insider Jay D. Richards sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total transaction of $102,950.00. Following the completion of the sale, the insider now directly owns 34,687 shares of the company’s stock, valued at $1,428,410.66. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Cornish sold 10,778 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $39.11, for a total transaction of $421,527.58. Following the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at approximately $3,911,000. This represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its stake in BankUnited by 49.2% in the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock valued at $65,778,000 after buying an additional 740,896 shares during the period. Bank of Montreal Can grew its stake in BankUnited by 3,901.0% in the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock valued at $16,803,000 after buying an additional 559,720 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in BankUnited in the 3rd quarter valued at $17,745,000. Point72 Asset Management L.P. grew its stake in BankUnited by 741.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock valued at $11,628,000 after buying an additional 350,071 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in BankUnited by 3,658.4% in the 2nd quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock valued at $9,537,000 after buying an additional 317,143 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

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.