BankUnited (BKU) Receives Consensus Rating of “Buy” from Brokerages
BankUnited (NYSE:BKU) has been assigned an average rating of “Buy” from the fifteen research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $41.10.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of BankUnited from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. ValuEngine raised shares of BankUnited from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 target price on shares of BankUnited in a research note on Thursday, September 28th. BMO Capital Markets reissued a “hold” rating and set a $40.00 target price on shares of BankUnited in a research note on Friday, July 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $39.00 target price (down from $40.00) on shares of BankUnited in a research note on Thursday, July 6th.
Shares of BankUnited (NYSE BKU) traded down 0.78% during midday trading on Thursday, reaching $34.47. 294,961 shares of the company’s stock traded hands. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 15.42 and a beta of 1.10. BankUnited has a one year low of $28.13 and a one year high of $41.00. The company has a 50-day moving average of $33.79 and a 200-day moving average of $34.22.
BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The business had revenue of $269.48 million for the quarter, compared to analysts’ expectations of $258.47 million. BankUnited had a net margin of 24.64% and a return on equity of 10.03%. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities research analysts anticipate that BankUnited will post $2.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, October 13th. BankUnited’s dividend payout ratio (DPR) is presently 37.67%.
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In related news, insider Jeffrey Starr sold 7,445 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $35.08, for a total value of $261,170.60. Following the completion of the sale, the insider now directly owns 29,000 shares of the company’s stock, valued at $1,017,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John Adam Kanas sold 200,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $33.35, for a total transaction of $6,670,000.00. Following the completion of the sale, the chairman now directly owns 742,866 shares of the company’s stock, valued at $24,774,581.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 386,035 shares of company stock valued at $12,843,735. 5.10% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in BankUnited by 3.6% in the second quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock worth $295,602,000 after acquiring an additional 300,744 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in BankUnited by 11.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,666,132 shares of the financial services provider’s stock worth $258,425,000 after acquiring an additional 792,163 shares during the period. BlackRock Inc. lifted its stake in BankUnited by 14,458.5% in the first quarter. BlackRock Inc. now owns 4,958,929 shares of the financial services provider’s stock worth $185,017,000 after acquiring an additional 4,924,867 shares during the period. FMR LLC lifted its stake in BankUnited by 9.3% in the first quarter. FMR LLC now owns 4,576,449 shares of the financial services provider’s stock worth $170,747,000 after acquiring an additional 388,495 shares during the period. Finally, State Street Corp lifted its stake in BankUnited by 5.4% in the second quarter. State Street Corp now owns 4,027,935 shares of the financial services provider’s stock worth $135,782,000 after acquiring an additional 207,520 shares during the period. 98.24% of the stock is owned by institutional investors.
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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