BankUnited (NYSE:BKU) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of BankUnited, Inc. (NYSE:BKU) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.86 and traded as high as $38.72. BankUnited shares last traded at $38.59, with a volume of 1,138,884 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BKU shares. Barclays boosted their price objective on BankUnited from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BankUnited in a research report on Wednesday, October 8th. Cantor Fitzgerald began coverage on BankUnited in a report on Wednesday, September 10th. They set an “overweight” rating and a $44.00 target price for the company. Royal Bank Of Canada restated a “sector perform” rating on shares of BankUnited in a report on Thursday, July 24th. Finally, Hovde Group upped their target price on BankUnited from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BankUnited presently has an average rating of “Hold” and an average target price of $41.91.

BankUnited Stock Performance

The company has a market capitalization of $2.90 billion, a PE ratio of 11.32 and a beta of 1.27. The company has a 50 day moving average of $38.22 and a two-hundred day moving average of $35.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The company had revenue of $273.93 million for the quarter, compared to analysts’ expectations of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%.During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities research analysts predict that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 10th. BankUnited’s dividend payout ratio is currently 36.36%.

Insiders Place Their Bets

In other news, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the sale, the director directly owned 43,205 shares of the company’s stock, valued at approximately $1,675,921.95. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jay D. Richards sold 3,942 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the sale, the insider directly owned 39,193 shares in the company, valued at approximately $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of BankUnited during the first quarter valued at $28,000. Brooklyn Investment Group boosted its position in shares of BankUnited by 14,050.0% during the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock valued at $29,000 after buying an additional 843 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of BankUnited by 32.3% during the second quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider’s stock valued at $40,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of BankUnited by 141.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,531 shares of the financial services provider’s stock valued at $54,000 after buying an additional 898 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of BankUnited by 697.4% during the first quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock valued at $85,000 after buying an additional 2,155 shares during the last quarter. 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.