BankUnited (NYSE:BKU) Given Sector Perform Rating at Royal Bank of Canada

BankUnited (NYSE:BKU)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $37.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 5.38% from the company’s previous close.

BKU has been the topic of several other research reports. Hovde Group raised 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. Barclays raised their price objective on shares of BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their target price on shares of BankUnited from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Citigroup dropped their price objective on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lifted their target price on BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.40.

BankUnited Price Performance

Shares of BKU traded up $0.09 during trading hours on Wednesday, hitting $35.11. The stock had a trading volume of 427,122 shares, compared to its average volume of 811,413. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 15.11 and a beta of 1.33. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.87. The company’s fifty day moving average is $36.48 and its two-hundred day moving average is $32.32. BankUnited has a 52 week low of $21.02 and a 52 week high of $39.51.

BankUnited (NYSE:BKU) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The business had revenue of $515.24 million for the quarter, compared to the consensus estimate of $258.65 million. During the same period in the previous year, the business earned $0.63 EPS. On average, analysts anticipate that BankUnited will post 2.86 EPS for the current year.

Insider Buying and Selling at BankUnited

In other news, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total value of $303,314.48. Following the transaction, the director now directly owns 10,282 shares of the company’s stock, valued at $396,576.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in BankUnited by 3.1% in the first quarter. Vanguard Group Inc. now owns 9,483,630 shares of the financial services provider’s stock valued at $265,542,000 after buying an additional 280,993 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BankUnited by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,583,059 shares of the financial services provider’s stock valued at $134,144,000 after purchasing an additional 315,872 shares in the last quarter. Millennium Management LLC grew its holdings in shares of BankUnited by 49.2% during the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after purchasing an additional 740,896 shares during the last quarter. Jennison Associates LLC increased its stake in shares of BankUnited by 6.4% in the first quarter. Jennison Associates LLC now owns 1,552,387 shares of the financial services provider’s stock valued at $43,467,000 after buying an additional 93,119 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in BankUnited by 37.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 868,806 shares of the financial services provider’s stock valued at $31,659,000 after buying an additional 236,174 shares during the last quarter. 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.