The Vanguard Group, Inc. recently announced the acquisition of new stake in BankUnited Inc. (NYSE:BKU). The institutional investor has increased its shareholding in the Financial company by 1.12% to 9.09 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 12.16% valued currently at $322.0 million. In addition, T. Rowe Price Investment Manageme raised its holdings by 0.31 million to 6.83 million shares. And Dimensional Fund Advisors LP has lifted its position by 5.04% or 0.23 million shares – to 4.75 million shares.
With over 2.17 million BankUnited Inc. (BKU) shares trading Tuesday and a closing price of $23.97 on the day, the dollar volume was approximately $51.92 million. The shares have shown a negative half year performance of -37.40% and its price on 03/14/23 lost nearly -4.46%. Currently, there are 75.84M common shares owned by the public and among those 74.09M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for BKU have a consensus price objective of $36.65. The analysts have set the share’s price value over the next 12 months at a high of $41.00 and a low of $32.00. The average price target is 34.6% above its recent price level and an upside to the estimated low will see the stock gain 25.09% over that period. But an upside of 41.54% will see the stock hit the forecast high price target while median target price for the stock is $36.75.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 15,011 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 14,118 shares.
The top 3 mutual fund holders in BankUnited Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and T Rowe Price Small Cap Value Fund. iShares Core S&P Small Cap ETF owns 5.26 million shares of the company’s stock, all valued at over $186.22 million. Vanguard Total Stock Market Index bought 3171.0 shares to see its total holdings expand to 2.35 million shares valued at over $83.37 million and representing 3.15% of the shares outstanding. T Rowe Price Small Cap Value Fund bought 0.18 million shares to bring its total holdings to over 2.33 million shares at a value of $82.51 million. T Rowe Price Small Cap Value Fund now owns shares totaling to 3.12% of the shares outstanding.
Shares of BankUnited Inc. (NYSE: BKU) opened at $27.00, up $1.91 from a prior closing price of $25.09. However, the script later moved the day high at 27.00, down -4.46%. The company’s stock has a 5-day price change of -28.75% and -31.32% over the past three months. BKU shares are trading -29.44% year to date (YTD), with the 12-month market performance down to -42.46% lower. It has a 12-month low price of $23.14 and touched a high of $45.86 over the same period. BKU has an average intraday trading volume of 784.83K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -30.84%, -32.22%, and -34.09% respectively.
Institutional ownership of BankUnited Inc. (NYSE: BKU) 75.84M shares outstanding. Mutual fund holders own 40.23%, while other institutional holders and individual stakeholders account for 74.28% and 29.76% respectively.
It has a market capitalization of $1.86B and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 6.64, while the earnings-per-share (ttm) stands at $3.61. The company has a PEG of 0.69 and the debt-to-equity ratio at 0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.61% over the week and 3.77% over the month.
Analysts forecast that BankUnited Inc. (BKU) will achieve an EPS of $0.96 for the current quarter, $0.98 for the next quarter and $3.77 for 2024. The lowest estimate earnings-per-share for the quarter is $0.8 while analysts give the company a high EPS estimate of $1.14. Comparatively, EPS for the current quarter was $0.79 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.50%, and -1.68% over the next financial year. EPS should grow at an annualized rate of 9.64% over the next five years, compared to -8.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate BankUnited Inc. (BKU) as a “Hold” at a consensus score of 3.10. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 10 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the BKU, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on December 15, 2022, with the firm’s price target at $45-$38. Keefe Bruyette coverage for the BankUnited Inc. (BKU) stock in a research note released on June 03, 2022 offered a Mkt Perform rating with a price target of $51. Piper Sandler was of a view on May 09, 2022 that the stock is Underweight, while JP Morgan gave the stock Underweight rating on April 25, 2022, issuing a price target of $50- $43. JP Morgan on their part issued Neutral rating on April 01, 2022.
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