BankUnited (NYSE:BKU) Price Target Raised to $41.00 at JPMorgan Chase & Co.

BankUnited (NYSE:BKU) had its price objective upped by JPMorgan Chase & Co. from $34.50 to $41.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada increased their price target on shares of BankUnited from $29.00 to $31.00 and gave the company a sector perform rating in a report on Tuesday, July 9th. Wells Fargo & Company boosted their target price on BankUnited from $32.00 to $35.00 and gave the company an equal weight rating in a research report on Monday. Hovde Group increased their price target on BankUnited from $33.00 to $41.00 and gave the company an outperform rating in a report on Friday, July 19th. StockNews.com raised shares of BankUnited from a sell rating to a hold rating in a research note on Monday, April 29th. Finally, Barclays increased their target price on shares of BankUnited from $30.00 to $35.00 and gave the company an equal weight rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $34.27.

BankUnited Price Performance

Shares of BKU stock traded down $0.46 during mid-day trading on Tuesday, hitting $37.61. The company had a trading volume of 229,634 shares, compared to its average volume of 839,636. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.88. The stock’s 50 day moving average price is $29.70 and its 200-day moving average price is $28.32. BankUnited has a 52-week low of $20.84 and a 52-week high of $38.50. The company has a market capitalization of $2.81 billion, a P/E ratio of 16.41 and a beta of 1.35.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. The business had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Equities research analysts forecast that BankUnited will post 2.83 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, July 12th. BankUnited’s dividend payout ratio (DPR) is presently 50.00%.

Insider Activity

In other BankUnited news, Director John N. Digiacomo sold 1,500 shares of the firm’s stock in a transaction 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 directly owns 13,482 shares in the company, valued at approximately $394,752.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the transaction, the director now owns 43,654 shares of the company’s stock, valued at approximately $1,593,371. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John N. Digiacomo sold 1,500 shares of the company’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 completion of the sale, the director now directly owns 13,482 shares of the company’s stock, valued at approximately $394,752.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,143 shares of company stock valued at $543,005. Corporate insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On BankUnited

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new position in BankUnited in the third quarter worth about $1,163,000. Nisa Investment Advisors LLC raised its stake in shares of BankUnited by 106.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,879 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 2,000 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in BankUnited during the fourth quarter valued at approximately $1,206,000. Knights of Columbus Asset Advisors LLC acquired a new stake in BankUnited in the fourth quarter valued at approximately $5,657,000. Finally, Jennison Associates LLC grew its holdings in BankUnited by 54.3% in the fourth quarter. Jennison Associates LLC now owns 1,459,268 shares of the financial services provider’s stock worth $47,324,000 after purchasing an additional 513,342 shares during the last quarter. 99.70% of the stock is owned by hedge funds and other 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.