Hovde Group Issues Pessimistic Forecast for BankUnited (NYSE:BKU) Stock Price

BankUnited (NYSE:BKU) had its price target cut by equities research analysts at Hovde Group from $55.00 to $53.00 in a research note issued on Monday. The firm currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective would indicate a potential upside of 14.24% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Wall Street Zen raised shares of BankUnited from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup lowered their price objective on BankUnited from $45.00 to $42.00 and set a “sell” rating for the company in a research report on Friday. Zacks Research downgraded BankUnited from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $56.00 target price on shares of BankUnited in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada decreased their price target on BankUnited from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.00.

BankUnited Stock Down 0.2%

NYSE:BKU opened at $46.39 on Monday. The company’s 50-day simple moving average is $47.67 and its 200-day simple moving average is $47.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 0.82. BankUnited has a fifty-two week low of $34.79 and a fifty-two week high of $52.11. The stock has a market capitalization of $3.37 billion, a P/E ratio of 12.71 and a beta of 1.17.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The firm had revenue of $284.57 million for the quarter, compared to the consensus estimate of $290.33 million. During the same quarter last year, the firm earned $0.91 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that BankUnited will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.97, for a total value of $45,970.00. Following the sale, the director owned 15,027 shares in the company, valued at $690,791.19. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay D. Richards sold 4,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the transaction, the insider directly owned 40,502 shares of the company’s stock, valued at approximately $1,971,232.34. This trade represents a 8.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in BankUnited in the 1st quarter valued at about $28,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of BankUnited in the 4th quarter valued at approximately $30,000. Kestra Advisory Services LLC acquired a new position in shares of BankUnited during the 4th quarter worth approximately $35,000. Quarry LP raised its position in shares of BankUnited by 158.2% in the third quarter. Quarry LP now owns 940 shares of the financial services provider’s stock valued at $36,000 after buying an additional 576 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in BankUnited by 141.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,531 shares of the financial services provider’s stock worth $54,000 after buying an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

BankUnited Company Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.