BankUnited (NYSE:BKU) Stock Price Target Lowered at Piper Sandler

Key Points

• Piper Sandler lowered BankUnited’s price target from $47 to $44 while maintaining a “neutral” rating, implying roughly 3% upside from the prior close.
• Analyst sentiment remains mixed, with an overall “Hold” consensus and an average price target of $48.91; six analysts rate the stock a Buy, five Hold, and three Sell.
• BankUnited reported quarterly EPS of $1.03, in line with estimates, though revenue of $280.44 million fell short of the $292.50 million forecast. Shares closed at $42.74, while institutional investors own 99.70% of the stock.

BankUnited (NYSE:BKU - Get Free Report) had its target price reduced by equities research analysts at Piper Sandler from $47.00 to $44.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price objective indicates a potential upside of 2.96% from the company's previous close.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company restated an "equal weight" rating and issued a $47.00 price target (down from $54.00) on shares of BankUnited in a research report on Tuesday, September 29th. Hovde Group lowered their price objective on shares of BankUnited from $53.00 to $52.00 and set an "outperform" rating on the stock in a research report on Monday, September 14th. Jefferies Financial Group reissued a "buy" rating on shares of BankUnited in a research note on Wednesday, July 22nd. Weiss Ratings restated a "buy (b)" rating on shares of BankUnited in a report on Wednesday, August 26th. Finally, Raymond James Financial reissued an "outperform" rating on shares of BankUnited in a research report on Wednesday, October 21st. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $48.91.

BankUnited Price Performance

NYSE BKU traded down $0.71 on Wednesday, hitting $42.74. 73,681 shares of the company were exchanged, compared to its average volume of 896,167. BankUnited has a twelve month low of $38.01 and a twelve month high of $52.11. The firm has a market capitalization of $3.04 billion, a P/E ratio of 11.52 and a beta of 1.20. The company's 50 day moving average price is $44.12 and its 200-day moving average price is $46.33.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. The firm had revenue of $280.44 million during the quarter, compared to analyst estimates of $292.50 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. As a group, equities analysts expect that BankUnited will post 3.95 EPS for the current year.

Insider Buying and Selling

In other BankUnited 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 transaction, the director directly owned 42,472 shares in the company, valued at $2,034,408.80. This trade represents a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On BankUnited

A number of institutional investors have recently modified their holdings of BKU. BlackRock Inc. bought a new position in shares of BankUnited in the second quarter worth about $518,492,000. Dimensional Fund Advisors LP lifted its stake in BankUnited by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider's stock worth $210,390,000 after purchasing an additional 26,292 shares during the period. Bank of New York Mellon Corp acquired a new stake in BankUnited in the 2nd quarter valued at $46,177,000. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 67,981 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in BankUnited by 0.6% in the first quarter. Principal Financial Group Inc. now owns 360,326 shares of the financial services provider's stock valued at $16,272,000 after buying an additional 2,176 shares in the last quarter. Institutional investors own 99.70% of the company's stock.

BankUnited Company Profile

BankUnited, Inc NYSE: BKU is the bank holding company for BankUnited, N.A., a full-service commercial bank headquartered in Miami Lakes, Florida. The company provides banking and financial services to businesses, institutions and individual customers, with an emphasis on commercial banking.

BankUnited offers commercial and industrial loans, commercial real estate and multifamily financing, residential lending, mortgage warehouse facilities, consumer loans and deposit products. Its services also include treasury management, cash management, online and mobile banking, wealth management and other financial solutions designed to support business and personal banking needs.

The bank primarily serves customers in Florida and the New York metropolitan area, while its commercial banking activities extend to selected markets in other parts of the United States.

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