BankUnited (BKU) Downgraded by Hovde Group

BankUnited (NYSE:BKU) was downgraded by equities researchers at Hovde Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They currently have a $44.00 target price on the financial services provider’s stock, down from their prior target price of $45.00. Hovde Group’s price target suggests a potential upside of 13.64% from the company’s current price.

A number of other equities analysts also recently weighed in on BKU. Barclays lifted their target price on shares of BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $41.00 target price on shares of BankUnited in a research note on Wednesday, January 24th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Zacks Investment Research upgraded shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Friday, January 12th. Finally, Deutsche Bank reduced their price target on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. BankUnited has an average rating of “Hold” and a consensus price target of $43.09.

BankUnited (NYSE BKU) opened at $38.72 on Wednesday. BankUnited has a 52 week low of $30.37 and a 52 week high of $43.84. The firm has a market cap of $4,140.00, a price-to-earnings ratio of 6.95, a P/E/G ratio of 1.42 and a beta of 1.00. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 0.96.

BankUnited (NYSE:BKU) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. The business had revenue of $285.37 million during the quarter, compared to the consensus estimate of $270.33 million. During the same quarter last year, the firm earned $0.59 earnings per share. analysts expect that BankUnited will post 3.16 EPS for the current fiscal year.

BankUnited announced that its board has approved a share repurchase program on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

In other news, insider Mark Bagnoli sold 1,000 shares of BankUnited stock in a transaction dated 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 directly owns 19,699 shares in the company, valued at $706,800.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Pauls sold 40,000 shares of BankUnited stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the transaction, the director now owns 31,380 shares of the company’s stock, valued at $1,321,725.60. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of BankUnited by 1.5% during the second quarter. Northern Trust Corp now owns 481,813 shares of the financial services provider’s stock valued at $16,243,000 after buying an additional 7,337 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of BankUnited by 9.9% during the third quarter. Legal & General Group Plc now owns 72,258 shares of the financial services provider’s stock valued at $2,571,000 after buying an additional 6,482 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BankUnited by 3.6% during the second quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock valued at $295,602,000 after buying an additional 300,744 shares during the last quarter. Cipher Capital LP grew its holdings in shares of BankUnited by 19.1% during the third quarter. Cipher Capital LP now owns 116,677 shares of the financial services provider’s stock valued at $4,150,000 after buying an additional 18,673 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of BankUnited by 2.4% during the third quarter. Victory Capital Management Inc. now owns 1,618,948 shares of the financial services provider’s stock valued at $57,586,000 after buying an additional 37,892 shares during the last quarter. Hedge funds and other institutional investors own 96.94% of the company’s stock.

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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.

Analyst Recommendations for BankUnited (NYSE:BKU)

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