Cantor Fitzgerald Begins Coverage on BankUnited (NYSE:BKU)

Key Points

• BankUnited was recently upgraded to a "strong-buy" rating by Cantor Fitzgerald, indicating increasing confidence among analysts in the company's prospects.
• Research from multiple firms shows varied price target changes, with Barclays raising their target from $41.00 to $43.00 and Keefe, Bruyette & Woods adjusting theirs from $38.00 to $42.00.
• The company reported earnings of $0.91 per share, surpassing analyst expectations, and its stock has a current consensus rating of "Hold" with a target price of $41.75.

Stock analysts at Cantor Fitzgerald assumed coverage on shares of BankUnited (NYSE:BKU - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set an "overweight" rating on the financial services provider's stock.

A number of other analysts have also issued reports on BKU. Citigroup boosted their target price on BankUnited from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Hovde Group boosted their target price on BankUnited from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Barclays boosted their target price on BankUnited from $41.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen raised BankUnited from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Piper Sandler reissued a "neutral" rating and issued a $43.00 target price (up previously from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $41.75.

BankUnited Trading Up 0.5%

BKU opened at $38.61 on Tuesday. BankUnited has a one year low of $28.21 and a one year high of $44.45. The stock has a market capitalization of $2.90 billion, a PE ratio of 11.32 and a beta of 1.29. The business's 50 day moving average price is $37.75 and its 200 day moving average price is $35.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.84 and a current ratio of 0.84.

BankUnited (NYSE:BKU - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.12. BankUnited had a return on equity of 9.00% and a net margin of 13.19%.The firm had revenue of $273.93 million for the quarter, compared to analysts' expectations of $267.17 million. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, equities research analysts expect that BankUnited will post 3.13 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jay D. Richards sold 3,942 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.81, for a total transaction of $152,989.02. Following the sale, the insider owned 39,193 shares of the company's stock, valued at approximately $1,521,080.33. This represents a 9.14% 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, Director Douglas J. Pauls sold 3,500 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the sale, the director directly owned 43,205 shares in the company, valued at $1,675,921.95. This represents a 7.49% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BankUnited

Several large investors have recently bought and sold shares of the business. Bayforest Capital Ltd increased its holdings in BankUnited by 32.3% in the second quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider's stock valued at $40,000 after buying an additional 271 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in BankUnited by 1.4% in the second quarter. Maryland State Retirement & Pension System now owns 22,104 shares of the financial services provider's stock valued at $787,000 after buying an additional 304 shares during the last quarter. Yousif Capital Management LLC increased its holdings in BankUnited by 1.2% in the second quarter. Yousif Capital Management LLC now owns 27,917 shares of the financial services provider's stock valued at $994,000 after buying an additional 337 shares during the last quarter. California State Teachers Retirement System increased its holdings in BankUnited by 0.7% in the second quarter. California State Teachers Retirement System now owns 69,132 shares of the financial services provider's stock valued at $2,460,000 after buying an additional 483 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in BankUnited by 0.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 77,271 shares of the financial services provider's stock valued at $2,752,000 after buying an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company's stock.

About BankUnited

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.