The Goldman Sachs Group Boosts BankUnited (NYSE:BKU) Price Target to $42.00

BankUnited (NYSE:BKU) had its target price hoisted by equities researchers at The Goldman Sachs Group from $36.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 0.85% from the company’s previous close.

BKU has been the subject of a number of other research reports. Wedbush upped their target price on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Citigroup dropped their price objective on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company upgraded shares of BankUnited from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $48.00 in a report on Wednesday, November 13th. Barclays upped their price target on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $37.00 target price on shares of BankUnited in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.70.

BankUnited Trading Down 0.7 %

BKU stock opened at $42.36 on Tuesday. BankUnited has a 12-month low of $24.34 and a 12-month high of $44.45. The business’s 50-day moving average is $37.37 and its 200 day moving average is $34.34. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 17.49 and a beta of 1.33.

BankUnited (NYSE:BKU) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. The business had revenue of $515.24 million for the quarter, compared to the consensus estimate of $258.65 million. During the same quarter last year, the business posted $0.63 earnings per share. On average, sell-side analysts anticipate that BankUnited will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling at BankUnited

In other news, COO Thomas M. Cornish sold 10,778 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jay D. Richards sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the sale, the insider now directly owns 34,687 shares in the company, valued at approximately $1,428,410.66. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.19% of the company’s stock.

Institutional Trading of BankUnited

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in BankUnited by 5.3% in the third quarter. Franklin Resources Inc. now owns 56,974 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 2,856 shares during the period. Geode Capital Management LLC boosted its stake in shares of BankUnited by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,719,596 shares of the financial services provider’s stock valued at $62,674,000 after buying an additional 20,218 shares during the period. Barclays PLC boosted its stake in shares of BankUnited by 48.3% in the 3rd quarter. Barclays PLC now owns 183,240 shares of the financial services provider’s stock valued at $6,677,000 after buying an additional 59,644 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of BankUnited by 8.8% during the third quarter. Public Employees Retirement System of Ohio now owns 74,966 shares of the financial services provider’s stock worth $2,732,000 after buying an additional 6,087 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of BankUnited during the third quarter worth approximately $1,261,000. Hedge funds and other institutional investors 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.