Wedbush Boosts BankUnited (NYSE:BKU) Price Target to $40.00

BankUnited (NYSE:BKU) had its target price raised by Wedbush from $39.00 to $40.00 in a report issued on Tuesday morning, Benzinga reports. Wedbush currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for BankUnited’s Q4 2024 earnings at $0.76 EPS, FY2024 earnings at $2.87 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.91 EPS, FY2025 earnings at $3.30 EPS and FY2026 earnings at $3.60 EPS.

BKU has been the subject of a number of other reports. Royal Bank of Canada raised their target price on shares of BankUnited from $29.00 to $31.00 and gave the company a sector perform rating in a report on Tuesday, July 9th. Citigroup decreased their target price on shares of BankUnited from $42.00 to $39.00 and set a neutral rating on the stock in a research report on Wednesday, September 11th. Barclays lifted their price target on BankUnited from $30.00 to $35.00 and gave the stock an equal weight rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on BankUnited from $34.50 to $41.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. Finally, Hovde Group lifted their price objective on shares of BankUnited from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $35.10.

BankUnited Trading Up 1.2 %

BankUnited stock opened at $35.71 on Tuesday. BankUnited has a 1 year low of $20.84 and a 1 year high of $39.51. The firm’s 50 day moving average price is $36.65 and its 200-day moving average price is $31.15. 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 stock has a market cap of $2.67 billion, a P/E ratio of 15.39 and a beta of 1.33.

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

BankUnited Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, October 11th. BankUnited’s dividend payout ratio is currently 50.00%.

Insider Activity at BankUnited

In other news, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jay D. Richards sold 10,143 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total transaction of $371,335.23. Following 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 filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the director now 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 three months. 1.19% of the stock is owned by insiders.

Institutional Investors Weigh In On BankUnited

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its holdings in BankUnited by 3,330.0% in the 4th quarter. US Bancorp DE now owns 23,530 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 22,844 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in BankUnited by 313.6% during the 4th quarter. Allianz Asset Management GmbH now owns 98,399 shares of the financial services provider’s stock worth $3,191,000 after buying an additional 74,609 shares in the last quarter. TFO Wealth Partners LLC boosted its position in BankUnited by 214,050.0% in the 4th quarter. TFO Wealth Partners LLC now owns 8,566 shares of the financial services provider’s stock valued at $278,000 after buying an additional 8,562 shares during the period. Rafferty Asset Management LLC grew its stake in shares of BankUnited by 41.8% in the fourth quarter. Rafferty Asset Management LLC now owns 179,146 shares of the financial services provider’s stock worth $5,810,000 after acquiring an additional 52,788 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of BankUnited in the fourth quarter valued at $1,331,000. 99.70% of the stock is currently owned by institutional investors and hedge funds.

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.