Wedbush Initiates Coverage on BankUnited, Inc. (BKU)

Equities research analysts at Wedbush started coverage on shares of BankUnited, Inc. (NYSE:BKU) in a report released on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating and a $35.00 price target on the financial services provider’s stock. Wedbush’s price objective suggests a potential upside of 5.17% from the company’s previous close.

Several other equities research analysts have also recently commented on BKU. Zacks Investment Research raised BankUnited from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, February 28th. Deutsche Bank AG dropped their price objective on BankUnited to $43.00 in a research report on Friday, March 24th. Keefe, Bruyette & Woods set a $41.00 price objective on BankUnited and gave the company a “hold” rating in a research report on Monday, April 3rd. Barclays PLC set a $42.00 price objective on BankUnited and gave the company a “buy” rating in a research report on Sunday, April 9th. Finally, J P Morgan Chase & Co cut BankUnited from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $39.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $39.50.

Shares of BankUnited (NYSE:BKU) opened at 33.28 on Tuesday. The company has a market capitalization of $3.56 billion, a PE ratio of 15.44 and a beta of 1.05. BankUnited has a 1-year low of $27.85 and a 1-year high of $41.00. The stock’s 50 day moving average price is $34.08 and its 200-day moving average price is $36.65.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. BankUnited had a return on equity of 9.66% and a net margin of 19.38%. The company had revenue of $258.74 million for the quarter, compared to analysts’ expectations of $260.46 million. During the same period last year, the firm posted $0.51 earnings per share. On average, equities analysts predict that BankUnited will post $2.37 EPS for the current year.

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In other BankUnited news, Chairman John Adam Kanas sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $32.65, for a total value of $6,530,000.00. Following the transaction, the chairman now directly owns 948,070 shares of the company’s stock, valued at $30,954,485.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 502,915 shares of company stock worth $16,804,877 over the last three months. Insiders own 5.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of BankUnited by 5.2% in the first quarter. Vanguard Group Inc. now owns 8,468,204 shares of the financial services provider’s stock valued at $315,948,000 after buying an additional 421,232 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of BankUnited by 9.9% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,873,969 shares of the financial services provider’s stock valued at $256,468,000 after buying an additional 618,612 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of BankUnited by 3.0% in the first quarter. Neuberger Berman Group LLC now owns 5,932,281 shares of the financial services provider’s stock valued at $221,333,000 after buying an additional 170,686 shares during the last quarter. BlackRock Inc. boosted its position in shares of BankUnited by 14,458.5% in the first quarter. BlackRock Inc. now owns 4,958,929 shares of the financial services provider’s stock valued at $185,017,000 after buying an additional 4,924,867 shares during the last quarter. Finally, FMR LLC boosted its position in shares of BankUnited by 9.3% in the first quarter. FMR LLC now owns 4,576,449 shares of the financial services provider’s stock valued at $170,747,000 after buying an additional 388,495 shares during the last quarter. 99.39% of the stock is currently owned by institutional investors and hedge funds.

About BankUnited

BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.

Analyst Recommendations for BankUnited (NYSE:BKU)

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