Traders Buy BankUnited Inc. (BKU) on Weakness
Traders bought shares of BankUnited Inc. (NYSE:BKU) on weakness during trading on Wednesday. $9.75 million flowed into the stock on the tick-up and $6.38 million flowed out of the stock on the tick-down, for a money net flow of $3.37 million into the stock. Of all companies tracked, BankUnited had the 22nd highest net in-flow for the day. BankUnited traded down ($0.24) for the day and closed at $30.24
Several research analysts have issued reports on BKU shares. Goldman Sachs Group Inc. lowered shares of BankUnited to a “sell” rating and set a $34.00 price target on the stock. in a research report on Thursday, May 26th. Zacks Investment Research upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Bank of America Corp. restated a “buy” rating and issued a $38.00 price target on shares of BankUnited in a research report on Monday, June 20th. Sandler O’Neill upgraded shares of BankUnited from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, June 29th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $35.00 price target on shares of BankUnited in a research report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. BankUnited currently has a consensus rating of “Hold” and a consensus price target of $35.96.
The stock’s 50 day moving average price is $30.72 and its 200 day moving average price is $32.44. The company has a market capitalization of $3.15 billion, a P/E ratio of 12.07 and a beta of 0.89.
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BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. BankUnited had a net margin of 24.42% and a return on equity of 9.80%. During the same quarter last year, the business earned $0.43 EPS. On average, equities research analysts expect that BankUnited Inc. will post $2.11 earnings per share for the current fiscal year.
In other news, insider Mark Bagnoli sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $30.11, for a total transaction of $60,220.00. Following the transaction, the insider now directly owns 17,458 shares in the company, valued at $525,660.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Starr sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $31.20, for a total transaction of $156,000.00. Following the transaction, the insider now owns 34,000 shares in the company, valued at $1,060,800. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in BKU. Citadel Advisors LLC raised its position in shares of BankUnited by 2,402.6% in the second quarter. Citadel Advisors LLC now owns 1,071,118 shares of the financial services provider’s stock valued at $32,905,000 after buying an additional 1,028,317 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of BankUnited by 66.0% in the first quarter. JPMorgan Chase & Co. now owns 2,305,832 shares of the financial services provider’s stock valued at $79,412,000 after buying an additional 917,061 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of BankUnited during the second quarter valued at $20,329,000. Mesirow Financial Investment Management Equity Management acquired a new position in shares of BankUnited during the second quarter valued at $17,646,000. Finally, American Century Companies Inc. raised its position in shares of BankUnited by 25.1% in the second quarter. American Century Companies Inc. now owns 2,836,844 shares of the financial services provider’s stock valued at $87,148,000 after buying an additional 569,648 shares in the last quarter. Institutional investors own 97.02% of the company’s stock.
BankUnited Company Profile
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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