BankUnited’s (BKU) Outperform Rating Reaffirmed at Wells Fargo & Co

BankUnited (NYSE:BKU)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wells Fargo & Co in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $50.00 price target on the financial services provider’s stock, up from their prior price target of $42.00. Wells Fargo & Co’s target price would suggest a potential upside of 19.22% from the company’s current price.

Several other research analysts have also commented on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 price objective on shares of BankUnited in a research note on Thursday, December 14th. Barclays reiterated a “buy” rating and set a $42.00 price objective on shares of BankUnited in a research note on Tuesday, December 5th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Deutsche Bank reduced their price objective on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. Finally, JMP Securities started coverage on shares of BankUnited in a research note on Tuesday. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.40.

BankUnited (NYSE:BKU) traded up $0.56 during trading hours on Tuesday, hitting $41.94. 1,033,100 shares of the stock traded hands, compared to its average volume of 866,500. BankUnited has a twelve month low of $30.37 and a twelve month high of $42.35. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $4,480.00, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.73 and a beta of 1.09.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. The business had revenue of $294.59 million during the quarter, compared to analyst estimates of $273.51 million. During the same quarter in the previous year, the business posted $0.47 EPS. sell-side analysts expect that BankUnited will post 2.37 EPS for the current fiscal year.

In related news, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the transaction, the insider now owns 19,699 shares in the company, valued at approximately $706,800.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in BankUnited by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock worth $295,602,000 after purchasing an additional 300,744 shares during the last quarter. JPMorgan Chase & Co. grew its position in BankUnited by 30.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,701,440 shares of the financial services provider’s stock worth $167,747,000 after purchasing an additional 1,106,515 shares during the last quarter. State Street Corp grew its position in BankUnited by 5.4% during the 2nd quarter. State Street Corp now owns 4,027,935 shares of the financial services provider’s stock worth $135,782,000 after purchasing an additional 207,520 shares during the last quarter. Jennison Associates LLC grew its position in BankUnited by 16.7% during the 3rd quarter. Jennison Associates LLC now owns 2,411,374 shares of the financial services provider’s stock worth $85,773,000 after purchasing an additional 345,760 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its position in BankUnited by 4.8% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,862,582 shares of the financial services provider’s stock worth $66,252,000 after purchasing an additional 84,844 shares during the last quarter. 95.26% of the stock is currently owned by institutional investors.

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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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