BankUnited Inc. (BKU) Trading Down 7.3%
BankUnited Inc. (NYSE:BKU) shares were down 7.3% during mid-day trading on Wednesday . The stock traded as low as $29.80 and last traded at $30.37, with a volume of 3,310,286 shares. The stock had previously closed at $32.75.
Several research analysts have recently issued reports on BKU shares. Zacks Investment Research upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a report on Friday, June 17th. Deutsche Bank AG upgraded shares of BankUnited from a “hold” rating to a “buy” rating and raised their target price for the stock from $37.00 to $38.00 in a report on Tuesday, April 12th. Goldman Sachs Group Inc. cut shares of BankUnited to a “sell” rating and set a $34.00 target price on the stock. in a report on Thursday, May 26th. Sandler O’Neill cut shares of BankUnited from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Finally, BMO Capital Markets cut shares of BankUnited from an “outperform” rating to a “market perform” rating and set a $35.00 target price on the stock. in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. BankUnited has a consensus rating of “Buy” and an average price target of $37.05.
The company’s 50 day moving average price is $31.63 and its 200 day moving average price is $33.17. The firm has a market cap of $3.19 billion and a PE ratio of 12.69.
BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. On average, equities analysts forecast that BankUnited Inc. will post $2.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, July 13th.
Several hedge funds and institutional investors have recently made changes to their positions in the company. SECOR Capital Advisors LP purchased a new position in shares of BankUnited during the fourth quarter valued at about $1,018,000. Trexquant Investment LP purchased a new position in shares of BankUnited during the fourth quarter valued at about $1,057,000. Suntrust Banks Inc. purchased a new position in shares of BankUnited during the fourth quarter valued at about $1,309,000. TD Asset Management Inc. boosted its position in shares of BankUnited by 41.3% in the fourth quarter. TD Asset Management Inc. now owns 41,400 shares of the financial services provider’s stock valued at $1,493,000 after buying an additional 12,100 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of BankUnited by 8.8% in the fourth quarter. First Trust Advisors LP now owns 52,429 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 4,240 shares during the last quarter.
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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