BankUnited (NYSE:BKU) Stock Gets Price Target Cut from Wells Fargo & Company

BankUnited (NYSE:BKU) had its price objective decreased by Wells Fargo & Company from $47.00 to $46.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on BKU. Weiss Ratings reiterated a “buy (b)” rating on shares of BankUnited in a research report on Wednesday, August 26th. Piper Sandler decreased their target price on shares of BankUnited from $47.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Raymond James Financial restated an “outperform” rating on shares of BankUnited in a research report on Wednesday, October 21st. Wall Street Zen upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Keefe, Bruyette & Woods cut their price target on BankUnited from $51.00 to $49.00 and set a “market perform” rating on the stock in a report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.82.

BankUnited Price Performance

Shares of BKU opened at $43.84 on Monday. The company has a market cap of $3.04 billion, a P/E ratio of 11.82 and a beta of 1.25. The stock has a fifty day moving average price of $43.58 and a 200 day moving average price of $46.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.83. BankUnited has a 12 month low of $38.01 and a 12 month high of $52.11.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, October 21st. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. BankUnited had a return on equity of 9.36% and a net margin of 15.01%. The company had revenue of $280.44 million for the quarter, compared to analysts’ expectations of $292.50 million. During the same period last year, the business posted $0.95 earnings per share. On average, research analysts forecast that BankUnited will post 3.90 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 9th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, October 9th. BankUnited’s dividend payout ratio is currently 35.58%.

Institutional Investors Weigh In On BankUnited

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKU. Congress Asset Management Co. lifted its holdings in shares of BankUnited by 21.9% during the third quarter. Congress Asset Management Co. now owns 306,147 shares of the financial services provider’s stock valued at $12,919,000 after purchasing an additional 54,900 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of BankUnited in the 1st quarter valued at $6,797,000. BlackRock Inc. purchased a new position in BankUnited in the 2nd quarter worth about $518,492,000. The Manufacturers Life Insurance Company purchased a new position in BankUnited in the 2nd quarter worth about $1,743,000. Finally, Squarepoint Ops LLC purchased a new position in BankUnited in the 2nd quarter worth about $3,407,000. Institutional investors own 99.70% of the company’s stock.

BankUnited Company Profile

BankUnited, Inc. is the bank holding company for BankUnited, N.A., a commercial bank headquartered in Miami Lakes, Florida. It serves businesses, individuals and institutions through banking offices and digital channels. The bank provides commercial and consumer deposit accounts, lending and cash-management services. Its commercial offerings include business loans and specialized financing, while its consumer services include personal banking and residential mortgage lending. BankUnited began operations in 2009 after acquiring the assets and deposits of the former BankUnited, FSB.