BankUnited (NYSE:BKU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $48.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.16% from the stock’s current price.
According to Zacks, “Shares of BankUnited have underperformed the industry in the past 12 months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all of the trailing four quarters. Consistent growth in loans and deposits, and higher interest rates are expected to drive revenues. Moreover, the company is well positioned to grow through acquisitions, given its strong balance sheet position. Further, through consistent dividend payments, the company should continue to enhance shareholder value. However, persistently increasing expenses and continued margin pressure (despite increase in interest rates) remain major near-term concerns.”
BKU has been the topic of several other research reports. Deutsche Bank dropped their price target on BankUnited from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday, November 8th. Barclays raised their price objective on BankUnited from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JMP Securities began coverage on BankUnited in a report on Tuesday, January 9th. They issued an “outperform” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $46.00 price objective on shares of BankUnited in a report on Wednesday, December 13th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $50.00 price objective (up previously from $42.00) on shares of BankUnited in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $42.91.
Shares of BankUnited (NYSE BKU) opened at $43.18 on Friday. BankUnited has a 12 month low of $30.37 and a 12 month high of $43.22. The stock has a market capitalization of $4,612.49, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.86.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. BankUnited had a return on equity of 10.23% and a net margin of 19.82%. The firm had revenue of $294.59 million for the quarter, compared to the consensus estimate of $273.51 million. During the same quarter last year, the business posted $0.47 EPS. equities research analysts forecast that BankUnited will post 2.39 earnings per share for the current fiscal year.
In other news, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total value of $35,880.00. Following the completion of the transaction, the insider now owns 19,699 shares in the company, valued at approximately $706,800.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BankUnited by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 276 shares during the period. Macquarie Group Ltd. bought a new position in BankUnited during the third quarter worth about $174,000. Forward Management LLC bought a new position in BankUnited during the third quarter worth about $192,000. QS Investors LLC grew its holdings in BankUnited by 9.6% during the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 550 shares during the period. Finally, Worth Venture Partners LLC bought a new position in BankUnited during the third quarter worth about $226,000. Institutional investors and hedge funds own 95.26% of the company’s stock.
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BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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