Wells Fargo & Company Increases BankUnited (NYSE:BKU) Price Target to $32.00

BankUnited (NYSE:BKU) had its price target hoisted by Wells Fargo & Company from $28.00 to $32.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.14% from the company’s previous close.

Several other analysts have also recently commented on BKU. StockNews.com upgraded BankUnited from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their target price on BankUnited from $33.00 to $34.50 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Barclays upped their price target on shares of BankUnited from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods dropped their price target on BankUnited from $33.00 to $31.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada dropped their target price on BankUnited from $33.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, BankUnited presently has a consensus rating of “Hold” and a consensus price target of $31.35.

BankUnited Stock Up 1.9 %

Shares of NYSE:BKU opened at $30.15 on Tuesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.88 and a current ratio of 0.88. BankUnited has a 1 year low of $20.84 and a 1 year high of $34.22. The stock has a market capitalization of $2.25 billion, a P/E ratio of 13.00 and a beta of 1.35. The stock has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $28.18.

BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. The company had revenue of $508.35 million for the quarter, compared to analyst estimates of $239.84 million. During the same period in the prior year, the company posted $0.70 EPS. Equities analysts forecast that BankUnited will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other BankUnited news, Director John N. Digiacomo sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $29.28, for a total transaction of $43,920.00. Following the transaction, the director now owns 13,482 shares of the company’s stock, valued at $394,752.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.19% of the company’s stock.

Institutional Investors Weigh In On BankUnited

Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its holdings in BankUnited by 54.3% during the 4th quarter. Jennison Associates LLC now owns 1,459,268 shares of the financial services provider’s stock worth $47,324,000 after acquiring an additional 513,342 shares during the period. Assenagon Asset Management S.A. lifted its position in BankUnited by 422.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 584,573 shares of the financial services provider’s stock valued at $16,368,000 after acquiring an additional 472,694 shares in the last quarter. Vanguard Group Inc. increased its stake in BankUnited by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock valued at $298,442,000 after buying an additional 332,567 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in BankUnited by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,596,577 shares of the financial services provider’s stock valued at $116,639,000 after buying an additional 251,281 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in BankUnited by 17.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,921 shares of the financial services provider’s stock valued at $46,989,000 after buying an additional 212,496 shares during the last quarter. 99.70% of the stock is currently owned by institutional investors.

BankUnited Company Profile

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.