BankUnited (NYSE:BKU) Price Target Raised to $38.00 at Wells Fargo & Company

BankUnited (NYSE:BKU) had its target price increased by Wells Fargo & Company from $35.00 to $38.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Barclays boosted their price objective on shares of BankUnited from $35.00 to $39.00 and gave the stock an equal weight rating in a report on Friday, September 27th. Hovde Group upped their price target on BankUnited from $33.00 to $41.00 and gave the company an outperform rating in a report on Friday, July 19th. Wedbush lifted their price objective on BankUnited from $39.00 to $40.00 and gave the stock a neutral rating in a report on Tuesday, September 24th. Royal Bank of Canada upped their target price on BankUnited from $29.00 to $31.00 and gave the company a sector perform rating in a research note on Tuesday, July 9th. Finally, Citigroup decreased their price target on shares of BankUnited from $42.00 to $39.00 and set a neutral rating on the stock in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $35.80.

BankUnited Trading Down 3.3 %

NYSE BKU opened at $35.24 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.22. BankUnited has a 1-year low of $20.84 and a 1-year high of $39.51. The firm’s fifty day simple moving average is $36.60 and its 200-day simple moving average is $31.33. The company has a market capitalization of $2.63 billion, a PE ratio of 15.19 and a beta of 1.33.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. The business had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. BankUnited’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, sell-side analysts anticipate that BankUnited will post 2.88 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.29%. BankUnited’s dividend payout ratio (DPR) is presently 50.00%.

Insiders Place Their Bets

In other news, Director Douglas J. Pauls sold 3,500 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $36.50, for a total value of $127,750.00. Following the completion of the sale, the director now directly owns 43,654 shares of the company’s stock, valued at approximately $1,593,371. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director William S. Rubenstein sold 7,864 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total transaction of $303,314.48. Following the sale, the director now owns 10,282 shares of the company’s stock, valued at $396,576.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the completion of the transaction, the director now directly owns 43,654 shares in the company, valued at approximately $1,593,371. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,507 shares of company stock worth $802,400. Insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On BankUnited

Large investors have recently bought and sold shares of the company. CWM LLC increased its stake in BankUnited by 307.6% in the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,455 shares during the last quarter. Headlands Technologies LLC acquired a new position in BankUnited during the first quarter worth $57,000. Meeder Asset Management Inc. bought a new stake in BankUnited during the second quarter worth $74,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in BankUnited during the second quarter worth $169,000. Finally, Picton Mahoney Asset Management acquired a new stake in BankUnited in the second quarter valued at $175,000. Institutional investors and hedge funds own 99.70% of the company’s stock.

About BankUnited

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.