BankUnited (NYSE:BKU) Price Target Raised to $43.00

BankUnited (NYSE:BKU) had its price target upped by Royal Bank of Canada from $42.00 to $43.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on BankUnited from $38.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of BankUnited from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Compass Point lifted their target price on shares of BankUnited from $42.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price target on BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Finally, Barclays cut their price objective on BankUnited from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.40.

BankUnited Price Performance

BankUnited stock opened at $40.80 on Thursday. BankUnited has a 1 year low of $24.34 and a 1 year high of $44.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.88 and a current ratio of 0.86. The firm has a 50 day moving average price of $39.95 and a 200 day moving average price of $37.63. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 13.25 and a beta of 1.38.

BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Sell-side analysts predict that BankUnited will post 3 earnings per share for the current year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, January 10th. BankUnited’s payout ratio is 37.66%.

Insider Transactions at BankUnited

In other news, COO Thomas M. Cornish sold 10,778 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $39.11, for a total transaction of $421,527.58. Following the transaction, the chief operating officer now owns 100,000 shares of the company’s stock, valued at approximately $3,911,000. This trade represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay D. Richards sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total value of $102,950.00. Following the completion of the sale, the insider now directly owns 34,687 shares of the company’s stock, valued at approximately $1,428,410.66. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On BankUnited

A number of hedge funds have recently added to or reduced their stakes in BKU. Alpha DNA Investment Management LLC bought a new position in shares of BankUnited in the 3rd quarter worth about $443,000. Intech Investment Management LLC acquired a new stake in BankUnited during the second quarter worth about $515,000. BNP Paribas Financial Markets lifted its holdings in BankUnited by 211.5% in the third quarter. BNP Paribas Financial Markets now owns 59,594 shares of the financial services provider’s stock worth $2,172,000 after acquiring an additional 40,461 shares during the last quarter. MML Investors Services LLC acquired a new position in BankUnited in the third quarter valued at approximately $347,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BankUnited by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 41,438 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 2,778 shares during the last quarter. 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.