Shares of BankUnited, Inc. (NYSE:BKU – Get Free Report) shot up 4.5% on Tuesday . The stock traded as high as $26.83 and last traded at $26.71. 251,717 shares changed hands during trading, a decline of 74% from the average session volume of 962,662 shares. The stock had previously closed at $25.55.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on BKU shares. StockNews.com cut BankUnited from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Wedbush dropped their price objective on BankUnited from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $33.00 price objective on shares of BankUnited in a report on Monday, January 29th. The Goldman Sachs Group increased their price objective on BankUnited from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday, December 18th. Finally, Citigroup decreased their target price on BankUnited from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.50.
BankUnited Trading Up 6.3 %
The stock has a market capitalization of $2.02 billion, a PE ratio of 11.07 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.98. The stock has a 50 day moving average price of $28.74 and a 200-day moving average price of $26.50.
BankUnited (NYSE:BKU – Get Free Report) last released its earnings results on Friday, January 26th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.42). The company had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $244.11 million. BankUnited had a net margin of 9.19% and a return on equity of 8.38%. During the same quarter last year, the firm posted $0.82 earnings per share. Sell-side analysts expect that BankUnited, Inc. will post 2.72 earnings per share for the current year.
BankUnited Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, April 11th. This is an increase from BankUnited’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 4.27%. BankUnited’s payout ratio is 45.38%.
Hedge Funds Weigh In On BankUnited
Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its position in shares of BankUnited by 347.0% in the first quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 2,762 shares in the last quarter. Citigroup Inc. lifted its position in shares of BankUnited by 7.6% in the first quarter. Citigroup Inc. now owns 80,697 shares of the financial services provider’s stock valued at $3,547,000 after acquiring an additional 5,716 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of BankUnited by 2.9% in the first quarter. PNC Financial Services Group Inc. now owns 18,775 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 533 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of BankUnited by 14.7% in the first quarter. Natixis Advisors L.P. now owns 33,882 shares of the financial services provider’s stock valued at $1,489,000 after acquiring an additional 4,348 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of BankUnited by 46.8% in the first quarter. MetLife Investment Management LLC now owns 44,612 shares of the financial services provider’s stock valued at $1,961,000 after acquiring an additional 14,213 shares in the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.
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.