BankUnited (NYSE:BKU) Given New $53.00 Price Target at Hovde Group

BankUnited (NYSE:BKU) had its price target trimmed by Hovde Group from $55.00 to $53.00 in a research note released on Monday, Marketbeat reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on BKU. Wells Fargo & Company boosted their target price on shares of BankUnited from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Citigroup cut their price objective on shares of BankUnited from $45.00 to $42.00 and set a “sell” rating for the company in a report on Friday. Weiss Ratings upgraded shares of BankUnited from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Royal Bank Of Canada dropped their target price on BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of BankUnited in a report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, BankUnited presently has an average rating of “Hold” and an average price target of $52.00.

BankUnited Stock Down 0.6%

BankUnited stock opened at $46.21 on Monday. The business’s 50-day moving average price is $47.68 and its 200 day moving average price is $47.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 12.66 and a beta of 1.17. BankUnited has a 52 week low of $34.79 and a 52 week high of $52.11.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The company had revenue of $284.57 million during the quarter, compared to analyst estimates of $290.33 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that BankUnited will post 4.09 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a $0.33 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. BankUnited’s dividend payout ratio is 36.16%.

Insider Activity at BankUnited

In related news, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the transaction, the insider owned 40,502 shares in the company, valued at approximately $1,971,232.34. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John N. Digiacomo sold 1,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.97, for a total value of $45,970.00. Following the transaction, the director directly owned 15,027 shares in the company, valued at $690,791.19. This trade represents a 6.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new stake in shares of BankUnited in the 3rd quarter valued at approximately $7,599,000. Artemis Investment Management LLP purchased a new position in BankUnited in the fourth quarter worth approximately $73,655,000. Horizon Investments LLC acquired a new stake in BankUnited during the fourth quarter worth $1,858,000. BW Gestao de Investimentos Ltda. acquired a new stake in BankUnited during the fourth quarter worth $7,800,000. Finally, Burney Co. purchased a new stake in BankUnited in the first quarter valued at $1,026,000. Institutional investors and hedge funds own 99.70% of the company’s stock.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.