BankUnited (NYSE:BKU) Price Target Lowered to $40.00 at Royal Bank of Canada

BankUnited (NYSE:BKU) had its price objective reduced by Royal Bank of Canada from $42.00 to $40.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Piper Sandler upgraded BankUnited from a “neutral” rating to an “overweight” rating and set a $41.00 target price for the company in a report on Tuesday, March 11th. Wells Fargo & Company reduced their price objective on BankUnited from $50.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. StockNews.com cut BankUnited from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Barclays lowered their price objective 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. Finally, Hovde Group cut their target price on shares of BankUnited from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BankUnited has a consensus rating of “Hold” and an average price target of $41.91.

BankUnited Trading Up 0.9 %

NYSE:BKU opened at $33.17 on Tuesday. The stock has a fifty day simple moving average of $33.42 and a 200 day simple moving average of $37.29. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 10.77 and a beta of 1.20. BankUnited has a 1-year low of $26.70 and a 1-year high of $44.45. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.04.

BankUnited (NYSE:BKU) last released its earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $255.41 million for the quarter, compared to the consensus estimate of $264.35 million. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same period last year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that BankUnited will post 3.13 earnings per share for the current year.

BankUnited Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from BankUnited’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 3.74%. BankUnited’s dividend payout ratio is currently 40.26%.

Insider Buying and Selling at BankUnited

In other BankUnited news, Director Sanjiv Sobti bought 1,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $32.83 per share, with a total value of $32,830.00. Following the acquisition, the director now directly owns 21,782 shares of the company’s stock, valued at $715,103.06. This represents a 4.81 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin A. Malcolm sold 3,234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $35.18, for a total transaction of $113,772.12. Following the completion of the sale, the insider now owns 12,250 shares in the company, valued at $430,955. This represents a 20.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in BankUnited by 182.3% in the 4th quarter. Blue Trust Inc. now owns 847 shares of the financial services provider’s stock valued at $31,000 after buying an additional 547 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in BankUnited by 42.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,380 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 410 shares during the period. Versant Capital Management Inc raised its position in BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in BankUnited during the fourth quarter worth about $73,000. Finally, Smartleaf Asset Management LLC boosted its holdings in BankUnited by 270.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,927 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,407 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors and hedge funds.

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.