BankUnited (NYSE:BKU) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

BankUnited, Inc. (NYSE:BKU) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $43.84 and traded as high as $44.59. BankUnited shares last traded at $44.0410, with a volume of 805,458 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler cut their target price on shares of BankUnited from $47.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Keefe, Bruyette & Woods dropped their price objective on BankUnited from $51.00 to $49.00 and set a “market perform” rating on the stock in a research note on Monday, August 3rd. Barclays dropped their price objective on BankUnited from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of BankUnited in a research report on Wednesday, August 26th. Finally, Raymond James Financial restated an “outperform” rating on shares of BankUnited in a research note on Wednesday, October 21st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, BankUnited has an average rating of “Hold” and a consensus target price of $48.91.

BankUnited Stock Performance

The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 11.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a 50 day moving average price of $43.84 and a two-hundred day moving average price of $46.29.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.03 earnings per share for the quarter, meeting the consensus estimate of $1.03. The company had revenue of $280.44 million during the quarter, compared to analysts’ expectations of $292.50 million. BankUnited had a net margin of 15.01% and a return on equity of 9.36%. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, analysts predict that BankUnited, Inc. will post 3.90 EPS for the current fiscal year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 9th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. BankUnited’s dividend payout ratio (DPR) is currently 35.58%.

Insider Activity

In other news, Director Douglas Pauls sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $47.90, for a total value of $143,700.00. Following the sale, the director directly owned 42,472 shares in the company, valued at $2,034,408.80. The trade was a 6.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BankUnited

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP bought a new stake in BankUnited during the second quarter worth $26,000. Farther Finance Advisors LLC lifted its stake in BankUnited by 62.7% in the third quarter. Farther Finance Advisors LLC now owns 690 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 266 shares during the last quarter. IFP Advisors Inc grew its position in shares of BankUnited by 85.4% in the 2nd quarter. IFP Advisors Inc now owns 938 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 432 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of BankUnited in the 2nd quarter valued at about $49,000. Finally, Nykredit A S bought a new position in shares of BankUnited in the 2nd quarter valued at about $59,000. Institutional investors own 99.70% of the company’s stock.

About BankUnited

BankUnited, Inc (NYSE:BKU) is the bank holding company for BankUnited, N.A., a full-service commercial bank headquartered in Miami Lakes, Florida. The company provides banking and financial services to businesses, institutions and individual customers, with an emphasis on commercial banking.

BankUnited offers commercial and industrial loans, commercial real estate and multifamily financing, residential lending, mortgage warehouse facilities, consumer loans and deposit products. Its services also include treasury management, cash management, online and mobile banking, wealth management and other financial solutions designed to support business and personal banking needs.

The bank primarily serves customers in Florida and the New York metropolitan area, while its commercial banking activities extend to selected markets in other parts of the United States.