Neuberger Berman Investment Advis recently announced the acquisition of new stake in BankUnited Inc (NYSE:BKU). The institutional investor has increased its shareholding in the Financial company by 1.59% to 1.62 million shares with purchase of 25331.0 shares. This fresh investment now brings its stake to 2.18% valued currently at $44.74 million.
With over 0.46 million BankUnited Inc (BKU) shares trading Friday and a closing price of $32.25 on the day, the dollar volume was approximately $14.74 million. The shares have shown a positive half year performance of 52.27% and its price on 12/22/23 lost nearly -0.25%. Currently, there are 75.67M common shares owned by the public and among those 73.64M 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: 12 analysts who have offered their price forecasts for BKU have a consensus price objective of $29.13. The analysts have set the share’s price value over the next 12 months at a high of $34.00 and a low of $23.50. The average price target is -10.75% below its recent price level and a downside to the estimated low will see the stock lose -37.23% over that period. But an upside of 5.15% will see the stock hit the forecast high price target while median target price for the stock is $29.00.
Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 134,912 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 43,774 shares.
The top 3 mutual fund holders in BankUnited Inc are iShares Core S&P Small Cap ETF, T Rowe Price Small Cap Value Fund, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 4.94 million shares of the company’s stock, all valued at over $136.32 million. T Rowe Price Small Cap Value Fund sold 43400.0 shares to see its total holdings shrink to 3.26 million shares valued at over $90.06 million and representing 4.39% of the shares outstanding. Vanguard Total Stock Market ETF bought 4626.0 shares to bring its total holdings to over 2.39 million shares at a value of $65.81 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.21% of the shares outstanding.
Shares of BankUnited Inc (NYSE: BKU) opened at $32.48, up $0.15 from a prior closing price of $32.33. The company’s stock has a 5-day price change of -1.95% and 41.57% over the past three months. BKU shares are trading -5.06% year to date (YTD), with the 12-month market performance down to -4.36% lower. It has a 12-month low price of $15.83 and touched a high of $40.22 over the same period. BKU has an average intraday trading volume of 846.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.53%, 24.53%, and 35.39% respectively.
Institutional ownership of BankUnited Inc (NYSE: BKU) shares accounts for 103.21% of the company’s 75.67M shares outstanding. Mutual fund holders own 40.54%, while other institutional holders and individual stakeholders account for 67.24% and 36.12% respectively.
It has a market capitalization of $2.40B and a beta (3y monthly) value of 1.38. The stock’s trailing 12-month PE ratio is 10.99, while the earnings-per-share (ttm) stands at $2.93. The company has a PEG of 1.14 and the debt-to-equity ratio at 2.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.05% over the week and 3.59% over the month.
Analysts forecast that BankUnited Inc (BKU) will achieve an EPS of $0.66 for the current quarter, $0.68 for the next quarter and $2.83 for 2024. The lowest estimate earnings-per-share for the quarter is $0.28 while analysts give the company a high EPS estimate of $0.78. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.64%, and -2.62% over the next financial year. EPS should grow at an annualized rate of 9.64% over the next five years, compared to -8.68% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate BankUnited Inc (BKU) as a “Moderate Buy” at a consensus score of 2.83. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 9 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the BKU, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on December 01, 2023, with the firm’s price target at $28.
