BankUnited, Inc. (NYSE:BKU) Receives $41.10 Consensus Target Price from Analysts

Shares of BankUnited, Inc. (NYSE:BKU) have been assigned an average recommendation of “Buy” from the fourteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $41.10.

Several equities analysts have commented on BKU shares. Bank of America Corporation reiterated a “buy” rating and set a $46.00 price objective on shares of BankUnited in a research report on Monday, July 10th. J P Morgan Chase & Co downgraded shares of BankUnited from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $42.00 to $39.00 in a research note on Wednesday, April 26th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 target price (down previously from $43.00) on shares of BankUnited in a research note on Saturday, April 29th. Morgan Stanley reissued an “overweight” rating and issued a $39.00 target price (down previously from $40.00) on shares of BankUnited in a research note on Thursday, July 6th. Finally, Wedbush reissued a “neutral” rating and issued a $35.00 target price on shares of BankUnited in a research note on Tuesday, June 27th.

In related news, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $35.08, for a total value of $261,170.60. Following the transaction, the insider now owns 29,000 shares of the company’s stock, valued at approximately $1,017,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman John Adam Kanas sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $32.65, for a total transaction of $6,530,000.00. Following the completion of the transaction, the chairman now directly owns 948,070 shares in the company, valued at approximately $30,954,485.50. The disclosure for this sale can be found here. Insiders sold a total of 810,760 shares of company stock worth $27,054,267 in the last ninety days. 5.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BKU. Public Employees Retirement Association of Colorado increased its position in BankUnited by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock worth $110,000 after buying an additional 128 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in BankUnited by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock worth $124,000 after buying an additional 276 shares during the period. LaSalle Street Capital Management LLC acquired a new position in BankUnited during the second quarter worth approximately $221,000. Karp Capital Management Corp acquired a new position in BankUnited during the first quarter worth approximately $222,000. Finally, Janney Montgomery Scott LLC increased its position in BankUnited by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 6,710 shares of the financial services provider’s stock worth $226,000 after buying an additional 738 shares during the period.

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Shares of BankUnited (NYSE BKU) traded down 1.49% during trading on Friday, reaching $33.11. 233,405 shares of the company were exchanged. BankUnited has a 1-year low of $28.13 and a 1-year high of $41.00. The stock’s 50 day moving average is $33.74 and its 200 day moving average is $35.77. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 14.81 and a beta of 1.07.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. The business had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. During the same quarter last year, the business earned $0.52 earnings per share. Equities analysts anticipate that BankUnited will post $2.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, July 12th. BankUnited’s dividend payout ratio is presently 37.67%.

About BankUnited

BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.

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