BankUnited (NYSE:BKU) Price Target Cut to $44.00 by Analysts at Barclays

BankUnited (NYSE:BKU) had its price objective trimmed by Barclays from $45.00 to $44.00 in a report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a research note on Tuesday, November 26th. Wedbush raised their price target on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Citigroup decreased their target price on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company upgraded BankUnited from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $38.00 to $48.00 in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on BankUnited from $38.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, BankUnited presently has a consensus rating of “Hold” and an average price target of $41.36.

BankUnited Price Performance

BKU stock opened at $38.10 on Friday. The firm has a 50-day moving average of $39.09 and a 200 day moving average of $35.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $2.85 billion, a P/E ratio of 15.61 and a beta of 1.36. BankUnited has a 1 year low of $24.34 and a 1 year high of $44.45.

BankUnited (NYSE:BKU) last announced its earnings results 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. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. The firm had revenue of $515.24 million for the quarter, compared to analysts’ expectations of $258.65 million. During the same quarter in the previous year, the business posted $0.63 EPS. On average, sell-side analysts forecast that BankUnited will post 2.89 EPS for the current year.

BankUnited Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, October 11th. BankUnited’s dividend payout ratio is presently 47.54%.

Insider Transactions at BankUnited

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

Hedge Funds Weigh In On BankUnited

Hedge funds have recently made changes to their positions in the business. Denali Advisors LLC purchased a new position in BankUnited in the 2nd quarter worth approximately $799,000. Alpha DNA Investment Management LLC purchased a new position in BankUnited during the third quarter valued at $443,000. Intech Investment Management LLC bought a new stake in BankUnited in the 2nd quarter valued at $515,000. BNP Paribas Financial Markets boosted its holdings in shares of BankUnited by 211.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 59,594 shares of the financial services provider’s stock valued at $2,172,000 after purchasing an additional 40,461 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of BankUnited by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 41,438 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 2,778 shares in the last quarter. 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.