BankUnited (BKU) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of BankUnited (NYSE:BKU) from a hold rating to a buy rating in a research report report published on Friday morning. Zacks Investment Research currently has $48.00 target price on the financial services provider’s stock.

According to Zacks, “Shares of BankUnited have underperformed the industry in the past 12 months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all of the trailing four quarters. Consistent growth in loans and deposits, and higher interest rates are expected to drive revenues. Moreover, the company is well positioned to grow through acquisitions, given its strong balance sheet position. Further, through consistent dividend payments, the company should continue to enhance shareholder value. However, persistently increasing expenses and continued margin pressure (despite increase in interest rates) remain major near-term concerns.”

A number of other equities analysts have also weighed in on BKU. Keefe, Bruyette & Woods reiterated a buy rating and set a $41.00 target price on shares of BankUnited in a research report on Thursday, September 28th. ValuEngine upgraded shares of BankUnited from a hold rating to a buy rating in a research report on Monday, October 2nd. JPMorgan Chase & Co. lowered shares of BankUnited from a neutral rating to an underweight rating and set a $35.00 price objective for the company. in a research report on Wednesday, November 1st. Deutsche Bank cut their price objective on shares of BankUnited from $42.00 to $40.00 and set a hold rating for the company in a research report on Wednesday, November 8th. Finally, BMO Capital Markets upgraded shares of BankUnited from a market perform rating to an outperform rating in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $42.91.

Shares of BankUnited (NYSE:BKU) traded up $0.62 during trading hours on Friday, reaching $43.18. 696,154 shares of the company’s stock were exchanged, compared to its average volume of 899,400. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $4,610.00, a price-to-earnings ratio of 18.14, a PEG ratio of 1.57 and a beta of 1.09. BankUnited has a 12-month low of $30.37 and a 12-month high of $43.22.

BankUnited (NYSE:BKU) last issued its earnings results on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $294.59 million during the quarter, compared to analyst estimates of $273.51 million. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. During the same quarter last year, the business earned $0.47 earnings per share. sell-side analysts expect that BankUnited will post 2.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. BankUnited’s dividend payout ratio (DPR) is currently 35.29%.

In other news, insider Mark Bagnoli sold 1,000 shares of the firm’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 value of $35,880.00. Following the completion of the transaction, the insider now directly owns 19,699 shares in the company, valued at $706,800.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 valued at $124,000 after purchasing an additional 276 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in BankUnited in the third quarter valued at approximately $174,000. Forward Management LLC purchased a new stake in BankUnited in the third quarter valued at approximately $192,000. QS Investors LLC raised its stake in BankUnited by 9.6% in the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 550 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in BankUnited in the third quarter valued at approximately $226,000. Institutional investors own 95.26% of the company’s stock.

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BankUnited Company Profile

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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