BankUnited (NYSE:BKU) Price Target Raised to $38.00

BankUnited (NYSE:BKU - Free Report) had its target price raised by Citigroup from $36.00 to $38.00 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider's stock.

Several other equities analysts have also commented on the stock. Hovde Group dropped their price target on shares of BankUnited from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their price target on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler upgraded shares of BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 target price on the stock in a research report on Tuesday, March 11th. Jefferies Financial Group assumed coverage on shares of BankUnited in a research report on Wednesday, May 21st. They set a "hold" rating and a $39.00 target price on the stock. Finally, Barclays lowered their target price on shares of BankUnited from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.33.

BankUnited Stock Up 1.1%

NYSE:BKU traded up $0.43 during mid-day trading on Wednesday, hitting $38.04. The stock had a trading volume of 530,590 shares, compared to its average volume of 809,954. The stock has a 50-day simple moving average of $34.71 and a two-hundred day simple moving average of $35.83. The company has a market capitalization of $2.86 billion, a PE ratio of 11.81 and a beta of 1.29. BankUnited has a twelve month low of $28.21 and a twelve month high of $44.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.83.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. BankUnited had a net margin of 12.26% and a return on equity of 8.66%. During the same period in the prior year, the firm posted $0.64 earnings per share. On average, equities research analysts anticipate that BankUnited will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, July 11th. BankUnited's dividend payout ratio is presently 38.51%.

Insider Buying and Selling at BankUnited

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the sale, the director owned 14,516 shares of the company's stock, valued at approximately $499,785.88. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $33.56, for a total value of $764,362.56. Following the completion of the sale, the chief financial officer directly owned 59,899 shares of the company's stock, valued at approximately $2,010,210.44. This trade represents a 27.55% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On BankUnited

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of BankUnited by 893.2% during the 1st quarter. Wellington Management Group LLP now owns 1,150,879 shares of the financial services provider's stock worth $39,636,000 after buying an additional 1,035,002 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in BankUnited in the 4th quarter valued at about $34,525,000. Freestone Grove Partners LP purchased a new stake in shares of BankUnited during the 4th quarter worth about $30,499,000. Boston Partners purchased a new stake in shares of BankUnited during the 1st quarter worth about $26,299,000. Finally, Kodai Capital Management LP purchased a new stake in shares of BankUnited during the 1st quarter worth about $16,986,000. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Company Profile

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.