Keefe, Bruyette & Woods Cuts BankUnited (NYSE:BKU) Price Target to $38.00

BankUnited (NYSE:BKU) had its price objective decreased by Keefe, Bruyette & Woods from $40.00 to $38.00 in a report published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on the stock. Hovde Group dropped their target price on shares of BankUnited from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Piper Sandler raised BankUnited from a “neutral” rating to an “overweight” rating and set a $41.00 price objective on the stock in a research report on Tuesday, March 11th. Wells Fargo & Company reduced their price objective on BankUnited from $50.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada lowered their target price on BankUnited from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, BankUnited has a consensus rating of “Hold” and an average target price of $40.55.

BankUnited Stock Performance

Shares of BankUnited stock opened at $33.84 on Wednesday. The company has a market cap of $2.55 billion, a PE ratio of 10.99 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.04. BankUnited has a 52 week low of $26.78 and a 52 week high of $44.45. The business has a 50 day moving average price of $33.16 and a 200-day moving average price of $37.21.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $255.41 million for the quarter, compared to analysts’ expectations of $264.35 million. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same period last year, the business earned $0.64 EPS. Equities analysts anticipate that BankUnited will post 3.13 earnings per share for the current fiscal year.

BankUnited Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th were issued a $0.31 dividend. This is a positive change from BankUnited’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, April 11th. BankUnited’s dividend payout ratio (DPR) is presently 38.51%.

Insider Activity at BankUnited

In other news, Director Sanjiv Sobti bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $32.83 per share, with a total value of $32,830.00. Following the acquisition, the director now owns 21,782 shares of the company’s stock, valued at approximately $715,103.06. The trade was a 4.81 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kevin A. Malcolm sold 3,234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $35.18, for a total transaction of $113,772.12. Following the completion of the transaction, the insider now directly owns 12,250 shares of the company’s stock, valued at approximately $430,955. The trade was a 20.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BankUnited

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its holdings in shares of BankUnited by 42.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,380 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 410 shares in the last quarter. GAMMA Investing LLC raised its stake in BankUnited by 9.2% in the fourth quarter. GAMMA Investing LLC now owns 5,063 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 426 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in BankUnited by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,802 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 495 shares during the last quarter. Blue Trust Inc. grew its stake in BankUnited by 182.3% in the 4th quarter. Blue Trust Inc. now owns 847 shares of the financial services provider’s stock worth $31,000 after buying an additional 547 shares in the last quarter. Finally, Atria Investments Inc raised its position in shares of BankUnited by 7.2% during the 4th quarter. Atria Investments Inc now owns 8,230 shares of the financial services provider’s stock valued at $314,000 after buying an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

About BankUnited

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.