BidaskClub Lowers BankUnited, Inc. (BKU) to Strong Sell
BankUnited, Inc. (NYSE:BKU) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.
Several other analysts have also issued reports on BKU. Zacks Investment Research raised BankUnited from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, February 28th. Deutsche Bank AG dropped their price objective on BankUnited to $43.00 in a research note on Friday, March 24th. Keefe, Bruyette & Woods set a $41.00 price objective on BankUnited and gave the stock a “hold” rating in a research note on Monday, April 3rd. Barclays PLC set a $42.00 price objective on BankUnited and gave the stock a “buy” rating in a research note on Sunday, April 9th. Finally, J P Morgan Chase & Co lowered BankUnited from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $39.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $39.91.
BankUnited (BKU) traded down 1.68% on Wednesday, hitting $33.38. The stock had a trading volume of 816,963 shares. BankUnited has a 52 week low of $27.85 and a 52 week high of $41.00. The firm has a 50-day moving average of $34.08 and a 200 day moving average of $36.65. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 15.49 and a beta of 1.05.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. BankUnited had a return on equity of 9.66% and a net margin of 19.38%. The business had revenue of $258.74 million during the quarter, compared to analyst estimates of $260.46 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, analysts predict that BankUnited will post $2.37 earnings per share for the current year.
In related news, Chairman John Adam Kanas sold 102,915 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $33.92, for a total value of $3,490,876.80. Following the sale, the chairman now directly owns 1,145,155 shares in the company, valued at $38,843,657.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.10% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of BKU. Envestnet Asset Management Inc. increased its stake in shares of BankUnited by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,163 shares of the financial services provider’s stock worth $1,325,000 after buying an additional 170 shares during the period. Principal Financial Group Inc. increased its stake in shares of BankUnited by 1.6% in the first quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $610,000 after buying an additional 258 shares during the period. Amalgamated Bank increased its stake in shares of BankUnited by 3.4% in the first quarter. Amalgamated Bank now owns 14,258 shares of the financial services provider’s stock worth $532,000 after buying an additional 463 shares during the period. Cadence Capital Management LLC increased its stake in shares of BankUnited by 7.5% in the first quarter. Cadence Capital Management LLC now owns 14,348 shares of the financial services provider’s stock worth $535,000 after buying an additional 1,000 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of BankUnited by 6.6% in the first quarter. ProShare Advisors LLC now owns 18,570 shares of the financial services provider’s stock worth $693,000 after buying an additional 1,146 shares during the period. Institutional investors and hedge funds own 99.39% of the company’s stock.
BankUnited Company Profile
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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