BankUnited (NYSE:BKU) Price Target Raised to $42.00

BankUnited (NYSE:BKU) had its target price increased by equities researchers at The Goldman Sachs Group from $36.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 2.78% from the company’s current price.

BKU has been the topic of a number of other reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.00 target price on shares of BankUnited in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of BankUnited from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $48.00 in a research note on Wednesday, November 13th. Wedbush upped their target price on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Citigroup reduced their price target 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, Barclays upped their price objective on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, BankUnited presently has a consensus rating of “Hold” and a consensus target price of $38.70.

BankUnited Trading Up 1.1 %

NYSE:BKU opened at $43.20 on Tuesday. The firm has a market capitalization of $3.23 billion, a P/E ratio of 17.70 and a beta of 1.33. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88. BankUnited has a one year low of $24.34 and a one year high of $44.45. The company’s 50-day simple moving average is $37.12 and its 200 day simple moving average is $34.15.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. The firm had revenue of $515.24 million for the quarter, compared to analysts’ expectations of $258.65 million. During the same period in the previous year, the firm posted $0.63 EPS. As a group, analysts forecast that BankUnited will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling at BankUnited

In other news, insider Jay D. Richards sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total value of $102,950.00. Following the completion of the sale, the insider now directly owns 34,687 shares in the company, valued at $1,428,410.66. This represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Thomas M. Cornish sold 10,778 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at $3,911,000. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.19% of the company’s stock.

Institutional Trading of BankUnited

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its stake in shares of BankUnited by 307.6% during the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,455 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in BankUnited during the second quarter valued at about $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BankUnited in the second quarter valued at about $169,000. GAMMA Investing LLC boosted its stake in shares of BankUnited by 17.4% in the third quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 686 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in shares of BankUnited during the second quarter worth about $175,000. 99.70% of the stock is owned by hedge funds and other institutional investors.

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.