BankUnited Receives Neutral Rating from Zacks (BKU)
BankUnited (NYSE:BKU)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Wednesday. They currently have a $35.00 price target on the stock. Zacks‘s price target indicates a potential upside of 4.01% from the company’s current price.
Zacks’ analyst wrote, “BankUnited’s first-quarter 2014 earnings were well ahead of the Zacks Consensus Estimate. Results benefited mainly from improvement in revenues, partly mitigated by rise in operating expenses. While consistent growth in loans and deposits were the highlights, decline in capital ratios slightly dampened the results. Nevertheless, the company is favorably positioned to grow both organically and inorganically, aided by healthy liquidity levels. Further, steady capital deployment activities and increasing emphasis on the commercial loan portfolio will prove accretive to its overall growth going forward. However, compressed net interest margin, exposure to disadvantageous residential loans and continuously rising non-interest expenses will likely weigh on its financials in the near term.”
Separately, analysts at Drexel Hamilton initiated coverage on shares of BankUnited in a research note on Thursday, May 8th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.38.
Shares of BankUnited (NYSE:BKU) traded down 0.12% during mid-day trading on Wednesday, hitting $33.61. The stock had a trading volume of 574,202 shares. BankUnited has a 52 week low of $26.31 and a 52 week high of $35.65. The stock has a 50-day moving average of $33.12 and a 200-day moving average of $32.92. The company has a market cap of $3.416 billion and a price-to-earnings ratio of 16.21.
BankUnited (NYSE:BKU) last announced its earnings results on Thursday, April 24th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.08. During the same quarter in the previous year, the company posted $0.47 earnings per share. Analysts expect that BankUnited will post $1.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, June 27th.
BankUnited, Inc (NYSE:BKU) is a bank holding company with three wholly owned subsidiaries: BankUnited, National Association (the Bank) Herald National Bank (Herald), and BankUnited Investment Services, Inc (BUIS), collectively, the Company.
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