Stock Analysis:BankUnited (NYSE:BKU) Stock Target Has Just Been Increased
In an analyst note sent to investors by JP Morgan on Thursday morning, BankUnited (NYSE:BKU) had its Estimated Target Price raised to $43.00. The firm right now has a solid “Overweight” rating on shares.
From a total of 12 analysts covering BankUnited (NYSE:BKU) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $44 while the lowest target price is $37. The mean of all analyst targets is $39.83 with a 8.22% above today’s ($37.33) stock price. BankUnited was the topic of 8 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Barclays Capital downgraded shares on November 5 to “Equal-Weight” rating. Bank of America upgraded BKU stock in a recent report from September 11 to “Buy” rating. Finally, RBC Capital Markets maintained the stock with “Outperform” rating in a report issued on a July 24.
Approximately 395,475 shares of stock traded hands. BankUnited (NYSE:BKU) has risen 10.99% since May 7, 2015 and is uptrending. It has outperformed by 12.92% the S&P500.
The overall sentiment of institutions has increased to 1.64 in Q2 2015. Its up 0.48, from 1.16 in 2015Q2. The ratio increased, as 17 institutions have sold all the shares of BankUnited that they owned while 59 funds have taken shares off the table. 33 funds have purchased shares for the first time while 92 added to their positions. These institutions now hold 111.05 million shares or 11.66% more than the 99.45 million shares they owned in 2015Q2.
The Fund Spindletop Capital Llc currently is holding shares equating to 12.31% of its total portfolio in BankUnited representing a total of 410,000 shares. Another fund,Forest Hill Capital Llc, is holding a total of 1.10 million shares equating to 3.72% of their holdings. Additionally, Wellcome Trust Ltd (The) As Trustee Of The Wellcome Trust has a 4.00 million share stake in BankUnited which represents 3.16% of their total portfolio. The Fund, Davis Capital Partners Llc, based out of California, has also built up a stake in the stock, which represents a total of 3.01% of their total portfolio. Finally Rathbone Brothers Plc, a fund which is based in the state of United Kingdom reported a total holdings of 1.24 million shares.
Insider activity is a very important aspect to track on any stock. Going back to April 30, 2015, shareholders of BankUnited have witnessed 0 insider purchases, and a total of 4 insider sales equating to a net activity of approximately $374,472 . Singh Rajinder P sold 3,368 shares worth approximately $124,650. Bagnoli Mark sold 1,000 shares worth approximately $37,214. Kanas John Adam sold 4,750 shares worth approximately $177,005. Starr Jeffrey sold 1,000 shares worth approximately $35,603. The company insider Lunak Leslie sold 9,000 shares worth $322,781.
BankUnited, Inc. is a bank holding company with one wholly owned subsidiary, BankUnited, National Association, collectively, the Company. The company has a market cap of $3.79 billion. BankUnited provides banking services to individual and corporate clients through 100 branches located in approximately 15 Florida counties and around six banking centers in the New York metropolitan area. It has 16.43 P/E ratio. The Company’s lending focus is to serve commercial and middle-market businesses, their executives and clients with financial services and products.
According to Zacks Investment Research, “BankUnited, Inc. through its subsidiaries provides various financial products and services to commercial and consumer customers in the United States. Products and services offered by the bank includes checking accounts, money market deposit accounts, savings accounts, and certificates of deposit; and loan portfolio comprises small business loans, residential mortgage loans, commercial and residential real estate loans, equipment loans, term loans, asset-backed loans, letters of credit, commercial lines of credit, and lease financing, as well as consumer loans consisting of home equity loans, auto, boat, and personal installment loans. It also provides wealth management products, such as mutual funds, annuities, life insurance, and individual securities; and succession planning, estate planning, and financial planning services to individuals and business owners. BankUnited, Inc. is headquartered in Miami Lakes, Florida.” Get a free copy of the Zacks research report on BankUnited (BKU).