Wells Fargo & Company Raises BankUnited (NYSE:BKU) Price Target to $32.00

BankUnited (NYSE:BKU) had its price objective hoisted by Wells Fargo & Company from $28.00 to $32.00 in a research note published on Tuesday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on BankUnited from $33.00 to $34.50 and gave the company a neutral rating in a report on Thursday, June 27th. Royal Bank of Canada cut their target price on BankUnited from $33.00 to $29.00 and set a sector perform rating on the stock in a research note on Tuesday, April 9th. Barclays boosted their target price on BankUnited from $29.00 to $30.00 and gave the company an equal weight rating in a research note on Monday, June 24th. Keefe, Bruyette & Woods cut their target price on BankUnited from $33.00 to $31.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Finally, StockNews.com upgraded BankUnited from a sell rating to a hold rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $31.35.

BankUnited Trading Up 0.1 %

NYSE:BKU opened at $31.63 on Tuesday. BankUnited has a fifty-two week low of $20.84 and a fifty-two week high of $34.22. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $2.36 billion, a PE ratio of 13.63 and a beta of 1.35. The business’s 50-day simple moving average is $28.73 and its 200-day simple moving average is $28.21.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. The business had revenue of $508.35 million for the quarter, compared to analysts’ expectations of $239.84 million. During the same quarter in the previous year, the business posted $0.70 EPS. Sell-side analysts expect that BankUnited will post 2.77 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, July 12th. BankUnited’s dividend payout ratio (DPR) is 50.00%.

Insiders Place Their Bets

In related news, Director John N. Digiacomo sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total transaction of $43,920.00. Following the transaction, the director now directly owns 13,482 shares of the company’s stock, valued at approximately $394,752.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of BankUnited during the 4th quarter worth approximately $1,329,000. Rafferty Asset Management LLC grew its holdings in BankUnited by 41.8% in the 4th quarter. Rafferty Asset Management LLC now owns 179,146 shares of the financial services provider’s stock valued at $5,810,000 after buying an additional 52,788 shares in the last quarter. Vanguard Group Inc. grew its holdings in BankUnited by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock valued at $298,442,000 after buying an additional 332,567 shares in the last quarter. Seven Eight Capital LP acquired a new position in BankUnited in the 4th quarter valued at $1,331,000. Finally, Goldman Sachs Group Inc. grew its holdings in BankUnited by 17.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 935,237 shares of the financial services provider’s stock valued at $30,330,000 after buying an additional 136,291 shares in the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.

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.