JPMorgan Chase & Co. Boosts BankUnited (NYSE:BKU) Price Target to $41.00

BankUnited (NYSE:BKU) had its price objective upped by JPMorgan Chase & Co. from $34.50 to $41.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of BankUnited from $29.00 to $31.00 and gave the stock a sector perform rating in a research note on Tuesday, July 9th. Hovde Group lifted their price objective on shares of BankUnited from $33.00 to $41.00 and gave the stock an outperform rating in a research report on Friday, July 19th. Barclays lifted their price objective on shares of BankUnited from $30.00 to $35.00 and gave the stock an equal weight rating in a research report on Monday. StockNews.com raised shares of BankUnited from a sell rating to a hold rating in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BankUnited from $33.00 to $31.00 and set a market perform rating for the company in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $34.27.

BankUnited Stock Performance

NYSE:BKU opened at $37.80 on Tuesday. The company has a fifty day simple moving average of $29.99 and a two-hundred day simple moving average of $28.45. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 16.29 and a beta of 1.35. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. BankUnited has a 52 week low of $20.84 and a 52 week high of $38.50.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, equities analysts anticipate that BankUnited will post 2.83 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. Investors of record on Friday, July 12th will be given a $0.29 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.07%. BankUnited’s dividend payout ratio (DPR) is presently 50.00%.

Insider Activity at BankUnited

In related news, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $36.50, for a total value of $127,750.00. Following the completion of the sale, the director now directly owns 43,654 shares of the company’s stock, valued at $1,593,371. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Jay D. Richards sold 10,143 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total value of $371,335.23. Following the completion of the sale, the insider now directly owns 37,187 shares of the company’s stock, valued at $1,361,416.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas J. Pauls sold 3,500 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the completion of the sale, the director now directly owns 43,654 shares of the company’s stock, valued at $1,593,371. The disclosure for this sale can be found here. Insiders sold a total of 15,143 shares of company stock valued at $543,005 over the last ninety days. Insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

A number of institutional investors and hedge funds have recently made changes to their positions in BKU. CWM LLC raised its holdings in shares of BankUnited by 307.6% in the second quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,455 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of BankUnited in the first quarter valued at about $57,000. Nisa Investment Advisors LLC raised its holdings in shares of BankUnited by 106.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,879 shares of the financial services provider’s stock valued at $126,000 after buying an additional 2,000 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of BankUnited in the fourth quarter valued at about $147,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of BankUnited in the fourth quarter valued at about $238,000. 99.70% of the stock is owned by hedge funds and other institutional investors.

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.