BankUnited (NYSE:BKU) Raised to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of BankUnited (NYSE:BKU) from a neutral rating to an overweight rating in a report released on Thursday, BenzingaRatingsTable reports. Piper Sandler currently has $27.00 price target on the financial services provider’s stock, up from their previous price target of $22.00.

A number of other equities research analysts also recently weighed in on BKU. Morgan Stanley lifted their price objective on BankUnited from $25.00 to $27.00 and gave the company an equal weight rating in a report on Monday, June 8th. Wells Fargo & Co decreased their price target on BankUnited from $30.00 to $28.00 and set an overweight rating on the stock in a research note on Thursday, April 30th. Compass Point dropped their price objective on BankUnited from $22.00 to $19.00 and set a neutral rating for the company in a research note on Wednesday, May 13th. Bank of America raised BankUnited from a neutral rating to a buy rating and lifted their price objective for the company from $24.00 to $30.00 in a 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 company. The stock has a consensus rating of Hold and a consensus price target of $28.83.

Shares of NYSE BKU opened at $20.14 on Thursday. The business has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $23.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 7.58 and a beta of 1.31. BankUnited has a one year low of $13.47 and a one year high of $37.60.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors 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 dividend yield of 4.57%. BankUnited’s dividend payout ratio is 29.39%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new stake in BankUnited during the 1st quarter worth about $37,000. CWM Advisors LLC acquired a new position in shares of BankUnited during the first quarter worth approximately $41,000. Procyon Private Wealth Partners LLC grew its stake in shares of BankUnited by 93.5% during the first quarter. Procyon Private Wealth Partners LLC now owns 2,515 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,215 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of BankUnited during the first quarter valued at approximately $47,000. Finally, Strs Ohio acquired a new stake in shares of BankUnited in the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 96.38% of the company’s stock.

About BankUnited

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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