BankUnited (NYSE:BKU) Given Overweight Rating at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated an Overweight rating on BankUnited and set a $56 price target, implying about 15.8% upside from the prior close.
• Analyst sentiment is mixed overall, with BankUnited carrying a Moderate Buy consensus rating and an average target price of $52.73 after several recent target cuts and rating changes from other firms.
• The stock rose 0.8% to $48.36, while the company’s latest quarterly results showed EPS and revenue below expectations even as earnings improved from a year earlier.

BankUnited (NYSE:BKU - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports. They currently have a $56.00 price target on the financial services provider's stock. Cantor Fitzgerald's price target indicates a potential upside of 15.81% from the stock's previous close.

BKU has been the topic of several other research reports. Hovde Group reduced their price target on shares of BankUnited from $57.00 to $53.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods lowered their price objective on BankUnited from $55.00 to $50.00 and set a "market perform" rating for the company in a report on Thursday, April 23rd. Wall Street Zen cut BankUnited from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Raymond James Financial reaffirmed an "outperform" rating on shares of BankUnited in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded BankUnited from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, BankUnited has a consensus rating of "Moderate Buy" and a consensus target price of $52.73.

BankUnited Stock Up 0.8%

Shares of BKU stock traded up $0.41 during mid-day trading on Wednesday, reaching $48.36. 65,010 shares of the company were exchanged, compared to its average volume of 883,949. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 0.82. The business's 50 day simple moving average is $47.48 and its 200 day simple moving average is $46.89. The company has a market capitalization of $3.51 billion, a P/E ratio of 13.51 and a beta of 1.17. BankUnited has a fifty-two week low of $34.79 and a fifty-two week high of $52.11.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.14). The company had revenue of $273.69 million during the quarter, compared to analyst estimates of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same period in the prior year, the company earned $0.78 earnings per share. Research analysts predict that BankUnited will post 4.16 earnings per share for the current year.

Insider Activity

In related news, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.97, for a total value of $45,970.00. Following the completion of the transaction, the director directly owned 15,027 shares of the company's stock, valued at $690,791.19. This represents a 6.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jay D. Richards sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total value of $194,680.00. Following the completion of the sale, the insider owned 40,502 shares in the company, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of BankUnited by 15.3% in the first quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock valued at $623,000 after acquiring an additional 2,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in BankUnited by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider's stock valued at $1,528,000 after purchasing an additional 1,934 shares in the last quarter. Jane Street Group LLC bought a new position in BankUnited during the 1st quarter valued at $9,100,000. Strs Ohio acquired a new position in shares of BankUnited during the 1st quarter valued at $28,000. Finally, Invesco Ltd. raised its stake in shares of BankUnited by 1.2% in the 2nd quarter. Invesco Ltd. now owns 570,879 shares of the financial services provider's stock worth $20,318,000 after buying an additional 6,815 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company's stock.

About BankUnited

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.

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