BankUnited (NYSE:BKU) Price Target Lowered to $42.00 at Wells Fargo & Company

BankUnited (NYSE:BKU) had its target price cut by Wells Fargo & Company from $50.00 to $42.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 29.13% from the company’s previous close.

Several other equities analysts have also recently commented on BKU. Barclays cut their target price on shares of BankUnited from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday. Compass Point lifted their target price on shares of BankUnited from $42.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. StockNews.com lowered shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Piper Sandler upgraded shares of BankUnited from a “neutral” rating to an “overweight” rating and set a $41.00 price target for the company in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada upped their price objective on BankUnited from $42.00 to $43.00 and gave the company a “sector perform” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, BankUnited currently has an average rating of “Hold” and an average price target of $42.18.

BankUnited Stock Performance

BankUnited stock traded up $3.05 on Wednesday, reaching $32.53. 640,542 shares of the stock were exchanged, compared to its average volume of 773,264. The stock has a market cap of $2.43 billion, a PE ratio of 10.48 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. BankUnited has a twelve month low of $24.34 and a twelve month high of $44.45. The firm has a fifty day moving average price of $36.27 and a two-hundred day moving average price of $37.74.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same period last year, the firm earned $0.26 EPS. Sell-side analysts anticipate that BankUnited will post 3.13 EPS for the current year.

Insider Activity

In other news, Director Sanjiv Sobti acquired 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $32.83 per share, for a total transaction of $32,830.00. Following the transaction, the director now directly owns 21,782 shares in the company, valued at approximately $715,103.06. This represents a 4.81 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin A. Malcolm sold 3,234 shares of BankUnited stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $35.18, for a total value of $113,772.12. Following the transaction, the insider now owns 12,250 shares in the company, valued at approximately $430,955. This represents a 20.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.

Institutional Trading of BankUnited

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of BankUnited by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 9,598,953 shares of the financial services provider’s stock worth $366,392,000 after acquiring an additional 181,493 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in BankUnited by 12.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,821,480 shares of the financial services provider’s stock worth $107,696,000 after purchasing an additional 322,368 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of BankUnited by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,719,596 shares of the financial services provider’s stock valued at $62,674,000 after purchasing an additional 20,218 shares during the period. Royce & Associates LP lifted its holdings in shares of BankUnited by 3.3% in the fourth quarter. Royce & Associates LP now owns 1,149,827 shares of the financial services provider’s stock valued at $43,889,000 after purchasing an additional 36,328 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of BankUnited during the fourth quarter worth about $34,525,000. 99.70% of the stock is owned by institutional investors.

About BankUnited

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.