BankUnited Inc. (BKU) Shares Gap Up to $30.85
BankUnited Inc. (NYSE:BKU) shares gapped up before the market opened on Friday . The stock had previously closed at $30.84, but opened at $30.85. BankUnited shares last traded at $31.13, with a volume of 312,892 shares changing hands.
A number of research analysts have recently issued reports on BKU shares. RBC Capital Markets reiterated an “outperform” rating and set a $37.00 price objective (down from $39.00) on shares of BankUnited in a report on Friday, July 22nd. Zacks Investment Research cut shares of BankUnited from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Sandler O’Neill cut shares of BankUnited from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Thursday, July 21st. Goldman Sachs Group Inc. cut shares of BankUnited from a “buy” rating to a “sell” rating and reduced their price objective for the company from $40.00 to $34.00 in a report on Thursday, May 19th. Finally, Hovde Group cut shares of BankUnited from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $33.00 to $30.00 in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.13.
The company has a market cap of $3.26 billion and a price-to-earnings ratio of 12.51. The company has a 50 day moving average of $30.57 and a 200 day moving average of $32.56.
BankUnited (NYSE:BKU) last released its 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. During the same period in the prior year, the company earned $0.43 EPS. On average, equities research analysts forecast that BankUnited Inc. will post $2.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.68%.
In other news, insider Mark Bagnoli sold 2,000 shares of BankUnited stock in a transaction on Friday, July 29th. The stock was sold at an average price of $30.11, for a total transaction of $60,220.00. Following the completion of the sale, the insider now directly owns 17,458 shares in the company, valued at $525,660.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several hedge funds have added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in BankUnited by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,178,443 shares of the financial services provider’s stock valued at $78,538,000 after buying an additional 11,842 shares during the last quarter. Trexquant Investment LP purchased a new stake in BankUnited during the fourth quarter valued at $1,057,000. Suntrust Banks Inc. purchased a new stake in BankUnited during the fourth quarter valued at $1,309,000. Finally, Wells Fargo & Company MN increased its stake in BankUnited by 14.6% in the fourth quarter. Wells Fargo & Company MN now owns 447,093 shares of the financial services provider’s stock valued at $16,122,000 after buying an additional 56,938 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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