Wells Fargo & Company Increases BankUnited (NYSE:BKU) Price Target to $38.00

BankUnited (NYSE:BKU) had its target price hoisted by investment analysts at Wells Fargo & Company from $35.00 to $38.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.38% from the company’s current price.

BKU has been the topic of several other reports. Royal Bank of Canada raised their price target on shares of BankUnited from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 9th. Wedbush boosted their price target on BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Citigroup reduced their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Hovde Group upped their target price on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Barclays raised their target price on BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.80.

BankUnited Trading Down 1.4 %

BankUnited stock opened at $34.74 on Tuesday. The business’s 50-day simple moving average is $36.55 and its 200-day simple moving average is $31.39. BankUnited has a 52 week low of $20.84 and a 52 week high of $39.51. The firm has a market capitalization of $2.60 billion, a PE ratio of 14.97 and a beta of 1.33. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. Equities research analysts forecast that BankUnited will post 2.88 earnings per share for the current year.

Insider Activity at BankUnited

In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the sale, the director now directly owns 43,654 shares of the company’s stock, valued at $1,593,371. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jay D. Richards sold 10,143 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the sale, the insider now directly owns 37,187 shares of the company’s stock, valued at approximately $1,361,416.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.50, for a total value of $127,750.00. Following the completion of the transaction, the director now directly owns 43,654 shares in the company, valued at approximately $1,593,371. The disclosure for this sale can be found here. Insiders sold 21,507 shares of company stock valued at $802,400 in the last ninety days. Insiders own 1.19% of the company’s stock.

Institutional Trading of BankUnited

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in BankUnited by 49.2% during the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after acquiring an additional 740,896 shares during the last quarter. Bank of Montreal Can lifted its position in shares of BankUnited by 3,901.0% during the second quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock worth $16,803,000 after purchasing an additional 559,720 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of BankUnited by 741.7% during the second quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock valued at $11,628,000 after purchasing an additional 350,071 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BankUnited by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock valued at $298,442,000 after purchasing an additional 332,567 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of BankUnited by 3,658.4% in the second quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock valued at $9,537,000 after purchasing an additional 317,143 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.