BankUnited (NYSE:BKU) Stock Gets Price Target Reduction from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered BankUnited’s price target from $54 to $52 while maintaining an “overweight” rating, implying roughly 24.7% upside from the prior close.
• Analyst sentiment is mixed: BankUnited has an overall “Hold” consensus rating and a $49.45 average price target, based on six Buy, five Hold, and three Sell ratings.
• BankUnited’s latest quarterly results fell slightly short of expectations, with EPS of $0.97 versus $1.00 expected and revenue of $284.57 million versus $290.33 million forecast; revenue still increased 3.9% year over year.

BankUnited (NYSE:BKU - Get Free Report) had its price objective cut by equities researchers at Cantor Fitzgerald from $54.00 to $52.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Cantor Fitzgerald's price target indicates a potential upside of 24.66% from the stock's previous close.

Several other brokerages have also recently issued reports on BKU. Citigroup reissued a "sell" rating on shares of BankUnited in a research note on Tuesday, September 22nd. Royal Bank Of Canada reduced their price objective on BankUnited from $50.00 to $49.00 and set a "sector perform" rating for the company in a report on Friday. Barclays reduced their price target on shares of BankUnited from $50.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. Wells Fargo & Company restated an "equal weight" rating and issued a $47.00 price objective (down from $54.00) on shares of BankUnited in a research report on Tuesday, September 29th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of BankUnited in a research note on Wednesday, August 26th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $49.45.

BankUnited Stock Performance

Shares of BKU opened at $41.71 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.97 billion, a PE ratio of 11.43 and a beta of 1.20. The company's 50 day simple moving average is $45.06 and its 200-day simple moving average is $46.38. BankUnited has a 12-month low of $35.10 and a 12-month high of $52.11.

BankUnited (NYSE:BKU - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business had revenue of $284.57 million during the quarter, compared to analysts' expectations of $290.33 million. During the same quarter last year, the company earned $0.91 EPS. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that BankUnited will post 3.99 EPS for the current year.

Insider Activity

In related news, Director Douglas Pauls sold 3,000 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the sale, the director directly owned 42,472 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On BankUnited

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of BankUnited by 5.7% during the third quarter. GAMMA Investing LLC now owns 6,996 shares of the financial services provider's stock worth $295,000 after acquiring an additional 376 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of BankUnited by 62.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 690 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 266 shares in the last quarter. Congress Asset Management Co. raised its position in shares of BankUnited by 21.9% during the 3rd quarter. Congress Asset Management Co. now owns 306,147 shares of the financial services provider's stock valued at $12,919,000 after acquiring an additional 54,900 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in BankUnited during the second quarter worth $49,000. Finally, IFP Advisors Inc lifted its stake in BankUnited by 85.4% during the second quarter. IFP Advisors Inc now owns 938 shares of the financial services provider's stock worth $45,000 after purchasing an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company's stock.

About BankUnited

BankUnited, Inc NYSE: BKU is the bank holding company for BankUnited, N.A., a regional financial institution headquartered in Miami Lakes, Florida. The bank serves businesses, professionals, institutions and individual consumers through a range of commercial and personal banking products.

BankUnited's offerings include commercial and industrial lending, commercial real estate financing, residential mortgage warehouse lending, consumer loans, checking and savings accounts, certificates of deposit, and treasury management services.

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