BankUnited, Inc. (NYSE:BKU – Get Rating)’s stock price was down 8.2% during trading on Friday . The company traded as low as $21.18 and last traded at $21.21. Approximately 266,322 shares changed hands during trading, a decline of 71% from the average daily volume of 931,409 shares. The stock had previously closed at $23.10.
Wall Street Analyst Weigh In
A number of research analysts have commented on BKU shares. JPMorgan Chase & Co. reduced their target price on BankUnited from $35.00 to $32.00 and set an “underweight” rating on the stock in a report on Tuesday, December 13th. StockNews.com initiated coverage on BankUnited in a report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company downgraded BankUnited from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $45.00 to $38.00 in a report on Thursday, December 15th. Finally, UBS Group started coverage on BankUnited in a research report on Wednesday. They issued a “neutral” rating and a $25.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, BankUnited currently has an average rating of “Hold” and an average target price of $39.25.
BankUnited Stock Down 7.9 %
The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The business has a fifty day simple moving average of $34.60 and a two-hundred day simple moving average of $35.20. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 5.99 and a beta of 1.23.
BankUnited (NYSE:BKU – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.29). BankUnited had a return on equity of 11.08% and a net margin of 21.78%. The firm had revenue of $269.88 million for the quarter, compared to analyst estimates of $268.41 million. Equities analysts expect that BankUnited, Inc. will post 3.89 EPS for the current year.
BankUnited Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, April 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This is a boost from BankUnited’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 5.08%. BankUnited’s dividend payout ratio (DPR) is currently 28.17%.
Insider Transactions at BankUnited
In related news, insider Kevin A. Malcolm sold 1,406 shares of BankUnited stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $35.21, for a total value of $49,505.26. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $352,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.
Institutional Trading of BankUnited
Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its position in BankUnited by 5.1% in the third quarter. Exchange Traded Concepts LLC now owns 18,844 shares of the financial services provider’s stock valued at $644,000 after buying an additional 917 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of BankUnited during the third quarter worth $207,000. Point72 Hong Kong Ltd acquired a new position in shares of BankUnited during the second quarter worth $434,000. Prudential Financial Inc. lifted its holdings in shares of BankUnited by 1.6% during the third quarter. Prudential Financial Inc. now owns 152,247 shares of the financial services provider’s stock worth $5,513,000 after purchasing an additional 2,350 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of BankUnited by 8.6% during the third quarter. Frontier Capital Management Co. LLC now owns 1,110,840 shares of the financial services provider’s stock worth $37,957,000 after purchasing an additional 87,832 shares during the period.
BankUnited, Inc is a holding company, which engages in the provision of commercial and consumer banking services through its subsidiary, BankUnited, N.A.. Its services include corporate banking, commercial real estate, treasury management, business checking accounts, business online banking solutions, and home mortgages.
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