BankUnited (NYSE:BKU) Price Target Cut to $39.00 by Analysts at Citigroup

BankUnited (NYSE:BKU) had its target price cut by Citigroup from $42.00 to $39.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on BKU. Wells Fargo & Company increased their price objective on BankUnited from $32.00 to $35.00 and gave the company an equal weight rating in a report on Monday, July 22nd. Barclays lifted their price objective on BankUnited from $30.00 to $35.00 and gave the stock an equal weight rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their target price on shares of BankUnited from $29.00 to $31.00 and gave the company a sector perform rating in a research report on Tuesday, July 9th. Wedbush raised their price target on shares of BankUnited from $30.00 to $39.00 and gave the stock a neutral rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BankUnited from $34.50 to $41.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $35.00.

BankUnited Trading Down 2.5 %

NYSE BKU opened at $34.89 on Wednesday. BankUnited has a twelve month low of $20.84 and a twelve month high of $39.51. The business’s fifty day moving average is $35.62 and its 200 day moving average is $30.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 15.04 and a beta of 1.33.

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

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Friday, July 12th. BankUnited’s payout ratio is 50.00%.

Insider Buying and Selling at BankUnited

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

Institutional Trading of BankUnited

A number of hedge funds and other institutional investors have recently bought and sold shares of BKU. Assenagon Asset Management S.A. grew its holdings in shares of BankUnited by 8.2% during the second quarter. Assenagon Asset Management S.A. now owns 632,632 shares of the financial services provider’s stock valued at $18,517,000 after buying an additional 48,059 shares during the last quarter. Empowered Funds LLC increased its holdings in BankUnited by 38.9% during the 1st quarter. Empowered Funds LLC now owns 226,937 shares of the financial services provider’s stock worth $6,354,000 after purchasing an additional 63,520 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of BankUnited in the fourth quarter worth approximately $1,329,000. Rafferty Asset Management LLC lifted its holdings in shares of BankUnited by 41.8% in the fourth quarter. Rafferty Asset Management LLC now owns 179,146 shares of the financial services provider’s stock valued at $5,810,000 after purchasing an additional 52,788 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of BankUnited by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock valued at $298,442,000 after buying an additional 332,567 shares during the last quarter. Institutional investors 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.