BankUnited (NYSE:BKU) Given “Buy” Rating at Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of BankUnited (NYSE:BKU) in a research report released on Thursday, AnalystRatings.com reports. Royal Bank of Canada currently has a $25.00 price target on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Co reduced their price target on BankUnited from $30.00 to $28.00 and set an overweight rating for the company in a research report on Thursday, April 30th. Piper Sandler upgraded shares of BankUnited from a neutral rating to an overweight rating and raised their target price for the stock from $22.00 to $27.00 in a research note on Thursday. Bank of America upgraded shares of BankUnited from a neutral rating to a buy rating and upped their price target for the stock from $24.00 to $30.00 in a research report on Monday, June 8th. Morgan Stanley raised their price objective on shares of BankUnited from $25.00 to $27.00 and gave the company an equal weight rating in a research report on Monday, June 8th. Finally, ValuEngine raised shares of BankUnited from a sell rating to a hold rating in a report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $28.83.

Shares of BKU stock opened at $20.14 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. BankUnited has a 12 month low of $13.47 and a 12 month high of $37.60. The stock has a market cap of $1.86 billion, a P/E ratio of 9.37, a P/E/G ratio of 7.58 and a beta of 1.31. The company has a 50 day simple moving average of $19.10 and a two-hundred day simple moving average of $23.00.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.59. BankUnited had a net margin of 15.86% and a return on equity of 7.54%. The firm had revenue of $228.69 million during the quarter, compared to the consensus estimate of $217.68 million. During the same quarter in the previous year, the firm posted $0.81 EPS. As a group, equities analysts forecast that BankUnited will post 1.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $0.92 dividend on an annualized basis and a yield of 4.57%. BankUnited’s dividend payout ratio is currently 29.39%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new position in shares of BankUnited during the first quarter valued at about $47,000. Nisa Investment Advisors LLC bought a new stake in BankUnited in the 1st quarter worth approximately $37,000. Cerebellum GP LLC purchased a new stake in shares of BankUnited during the 2nd quarter worth approximately $88,000. CWM Advisors LLC bought a new position in shares of BankUnited during the 1st quarter valued at approximately $41,000. Finally, Procyon Private Wealth Partners LLC boosted its position in shares of BankUnited by 93.5% during the 1st quarter. Procyon Private Wealth Partners LLC now owns 2,515 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,215 shares during the last quarter. 96.38% of the stock is owned by institutional investors and hedge funds.

BankUnited Company Profile

BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, savings accounts, and certificates of deposit; and treasury management services.

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Analyst Recommendations for BankUnited (NYSE:BKU)

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