BankUnited (NYSE:BKU) Upgraded to “Overweight” at Wells Fargo & Company

BankUnited (NYSE:BKU) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $48.00 price objective on the financial services provider’s stock, up from their prior price objective of $38.00. Wells Fargo & Company‘s target price would suggest a potential upside of 18.02% from the stock’s current price.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wedbush raised their price target on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. 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 research report on Friday, September 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.00 target price on shares of BankUnited in a research report on Wednesday, October 23rd. Finally, Citigroup lowered 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.40.

BankUnited Stock Performance

Shares of BKU stock opened at $40.67 on Wednesday. The company has a market capitalization of $3.04 billion, a P/E ratio of 16.67 and a beta of 1.33. BankUnited has a 52 week low of $24.34 and a 52 week high of $41.65. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average price is $36.41 and its two-hundred day moving average price is $33.51.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $515.24 million for the quarter, compared to analysts’ expectations of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same period in the previous year, the firm posted $0.63 EPS. On average, analysts expect that BankUnited will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at BankUnited

In related news, COO Thomas M. Cornish sold 10,778 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $39.11, for a total transaction of $421,527.58. Following the sale, the chief operating officer now owns 100,000 shares of the company’s stock, valued at $3,911,000. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.19% of the stock is currently owned by corporate insiders.

Institutional Trading of BankUnited

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its stake in shares of BankUnited by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 65,090 shares of the financial services provider’s stock worth $1,823,000 after acquiring an additional 896 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of BankUnited by 887.1% in the first quarter. SG Americas Securities LLC now owns 66,403 shares of the financial services provider’s stock worth $1,859,000 after buying an additional 59,676 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of BankUnited by 6.8% during the 1st quarter. Inspire Investing LLC now owns 12,632 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 807 shares during the last quarter. Headlands Technologies LLC bought a new position in BankUnited during the first quarter valued at approximately $57,000. Finally, Russell Investments Group Ltd. boosted its position in shares of BankUnited by 0.8% during the 1st quarter. Russell Investments Group Ltd. now owns 112,849 shares of the financial services provider’s stock valued at $3,160,000 after acquiring an additional 906 shares during the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

BankUnited Company Profile

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.