BankUnited (NYSE:BKU) Stock Price Target Cut by Wells Fargo & Company

BankUnited (NYSE:BKU) had its price objective dropped by research analysts at Wells Fargo & Company from $47.00 to $46.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.05% from the company’s current price.

BKU has been the subject of several other research reports. Zacks Research downgraded shares of BankUnited from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Raymond James Financial reaffirmed an “outperform” rating on shares of BankUnited in a research report on Wednesday, October 21st. Barclays reduced their price objective on BankUnited from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of BankUnited in a report on Wednesday, August 26th. Finally, Piper Sandler decreased their target price on BankUnited from $47.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, BankUnited presently has a consensus rating of “Hold” and an average target price of $48.82.

BankUnited Price Performance

BKU opened at $44.64 on Monday. The stock has a 50-day moving average price of $43.66 and a 200-day moving average price of $46.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $3.18 billion, a PE ratio of 12.04 and a beta of 1.25. BankUnited has a 1 year low of $38.01 and a 1 year high of $52.11.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.03. BankUnited had a net margin of 15.01% and a return on equity of 9.36%. The company had revenue of $280.44 million for the quarter, compared to analysts’ expectations of $292.50 million. During the same quarter in the previous year, the business posted $0.95 EPS. Sell-side analysts predict that BankUnited will post 3.90 earnings per share for the current fiscal year.

Insider Activity

In other BankUnited news, Director Douglas Pauls sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $47.90, for a total transaction of $143,700.00. Following the completion of the sale, the director directly owned 42,472 shares of the company’s stock, valued at $2,034,408.80. This trade represents a 6.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On BankUnited

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in BankUnited during the second quarter valued at $518,492,000. Dimensional Fund Advisors LP increased its holdings in BankUnited by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider’s stock valued at $210,390,000 after acquiring an additional 26,292 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in BankUnited in the 2nd quarter valued at $46,177,000. Bank of America Corp DE increased its holdings in BankUnited by 9.0% in the 1st quarter. Bank of America Corp DE now owns 819,548 shares of the financial services provider’s stock valued at $37,011,000 after acquiring an additional 67,981 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in BankUnited by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 360,326 shares of the financial services provider’s stock worth $16,272,000 after purchasing an additional 2,176 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

About BankUnited

BankUnited, Inc is the bank holding company for BankUnited, N.A., a commercial bank headquartered in Miami Lakes, Florida. It serves businesses, individuals and institutions through banking offices and digital channels.

The bank provides commercial and consumer deposit accounts, lending and cash-management services. Its commercial offerings include business loans and specialized financing, while its consumer services include personal banking and residential mortgage lending.

BankUnited began operations in 2009 after acquiring the assets and deposits of the former BankUnited, FSB.