BankUnited (NYSE:BKU) Price Target Raised to $55.00

BankUnited (NYSE:BKU) had its target price lifted by analysts at Wells Fargo & Company from $50.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 23.09% from the company’s current price.

Several other research firms have also recently weighed in on BKU. Barclays boosted their target price on BankUnited from $47.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Zacks Research upgraded shares of BankUnited from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Citigroup increased their target price on shares of BankUnited from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Raymond James Financial set a $55.00 price target on shares of BankUnited in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group dropped their price objective on BankUnited from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

BankUnited Stock Up 0.4%

Shares of BKU stock traded up $0.17 during trading hours on Monday, reaching $44.68. 72,333 shares of the stock were exchanged, compared to its average volume of 919,252. The business’s fifty day moving average is $47.09 and its two-hundred day moving average is $43.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.82 and a quick ratio of 0.82. BankUnited has a 12-month low of $28.21 and a 12-month high of $52.11. The firm has a market capitalization of $3.29 billion, a P/E ratio of 12.60 and a beta of 1.29.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $260.80 million during the quarter, compared to the consensus estimate of $279.76 million. BankUnited had a net margin of 14.14% and a return on equity of 9.09%. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, research analysts expect that BankUnited will post 3.13 EPS for the current fiscal year.

Insider Buying and Selling at BankUnited

In other news, insider Kevin A. Malcolm sold 3,447 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $47.11, for a total transaction of $162,388.17. Following the completion of the transaction, the insider directly owned 11,500 shares of the company’s stock, valued at approximately $541,765. This represents a 23.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jay D. Richards sold 3,506 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $49.83, for a total value of $174,703.98. Following the completion of the sale, the insider directly owned 35,687 shares of the company’s stock, valued at $1,778,283.21. This represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,953 shares of company stock valued at $591,492. 1.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. HoldCo Asset Management LP lifted its position in shares of BankUnited by 277.3% during the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider’s stock valued at $157,568,000 after acquiring an additional 2,598,382 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of BankUnited in the 4th quarter worth approximately $73,655,000. Millennium Management LLC increased its stake in BankUnited by 1,066.9% in the 4th quarter. Millennium Management LLC now owns 1,399,655 shares of the financial services provider’s stock valued at $62,383,000 after purchasing an additional 1,279,712 shares in the last quarter. UBS Group AG raised its holdings in BankUnited by 398.0% during the fourth quarter. UBS Group AG now owns 1,170,378 shares of the financial services provider’s stock worth $52,164,000 after purchasing an additional 935,370 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in BankUnited by 73.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider’s stock valued at $68,728,000 after purchasing an additional 652,926 shares during the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

BankUnited Company Profile

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.