BankUnited (NYSE:BKU) Stock Rating Upgraded by Wells Fargo & Company

BankUnited (NYSE:BKU) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $48.00 target price on the financial services provider’s stock, up from their previous target price of $38.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.02% from the stock’s previous close.

A number of other brokerages also recently commented on BKU. Hovde Group increased their price objective on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Wedbush increased their target price on BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Barclays lifted their price target on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.00 price objective on shares of BankUnited in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.40.

BankUnited Trading Up 0.9 %

NYSE:BKU opened at $40.67 on Wednesday. BankUnited has a 52 week low of $24.34 and a 52 week high of $41.65. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.28. The company has a market cap of $3.04 billion, a PE ratio of 16.67 and a beta of 1.33. The business’s 50 day moving average is $36.41 and its two-hundred day moving average is $33.51.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The business had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, analysts predict that BankUnited will post 2.85 EPS for the current year.

Insider Activity

In other news, COO Thomas M. Cornish sold 10,778 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the transaction, the chief operating officer now owns 100,000 shares in the company, valued at approximately $3,911,000. This represents a 9.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd lifted its position in shares of BankUnited by 0.9% during the second quarter. WINTON GROUP Ltd now owns 34,582 shares of the financial services provider’s stock worth $1,012,000 after purchasing an additional 303 shares in the last quarter. Arizona State Retirement System boosted its position in BankUnited by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 20,821 shares of the financial services provider’s stock valued at $609,000 after buying an additional 379 shares during the last quarter. Natixis Advisors LLC boosted its position in BankUnited by 1.0% in the 2nd quarter. Natixis Advisors LLC now owns 48,005 shares of the financial services provider’s stock valued at $1,405,000 after buying an additional 497 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of BankUnited by 17.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock valued at $169,000 after buying an additional 686 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in BankUnited by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 800 shares during the last quarter. 99.70% of the stock is currently owned by institutional investors and hedge funds.

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.