BankUnited Inc. (BKU) Given New $33.00 Price Target at Barclays PLC
BankUnited Inc. (NYSE:BKU) had its target price reduced by analysts at Barclays PLC from $34.00 to $33.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s target price points to a potential upside of 8.48% from the company’s current price.
BKU has been the subject of several other research reports. Zacks Investment Research upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a report on Friday, June 17th. Sandler O’Neill cut shares of BankUnited from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Thursday, July 21st. Royal Bank Of Canada reduced their price target on shares of BankUnited from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, July 21st. BMO Capital Markets reiterated a “hold” rating and issued a $34.00 price target on shares of BankUnited in a report on Thursday, July 21st. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $37.00 price target (down previously from $39.00) on shares of BankUnited in a report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.63.
Shares of BankUnited (NYSE:BKU) traded down 2.04% on Tuesday, reaching $29.80. 243,930 shares of the company traded hands. The stock has a 50 day moving average of $30.80 and a 200 day moving average of $31.97. BankUnited has a 52-week low of $27.85 and a 52-week high of $39.97. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 11.90 and a beta of 0.83.
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BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $0.43 earnings per share. On average, analysts expect that BankUnited will post $2.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, October 13th. BankUnited’s dividend payout ratio (DPR) is currently 33.60%.
In other BankUnited news, insider Mark Bagnoli sold 2,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 17,458 shares of the company’s stock, valued at $525,660.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Starr sold 5,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 34,000 shares in the company, valued at $1,060,800. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. 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 during 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 during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of BankUnited during the second quarter valued at $20,329,000. Mesirow Financial Investment Management Equity Management bought 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 during the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
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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