Goldman Sachs Maintains BankUnited Sell Recommendation
Fintel reports that on May 19, 2023, Goldman Sachs maintained coverage of BankUnited (NYSE:BKU) with a Sell recommendation.
Analyst Price Forecast Suggests 45.37% Upside
As of May 11, 2023, the average one-year price target for BankUnited is 27.59. The forecasts range from a low of 22.22 to a high of $39.38. The average price target represents an increase of 45.37% from its latest reported closing price of 18.98.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for BankUnited is 1,091MM, an increase of 17.95%. The projected annual non-GAAP EPS is 4.14.
BankUnited Declares $0.27 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of April 12, 2023 received the payment on April 28, 2023. Previously, the company paid $0.25 per share.
At the current share price of $18.98 / share, the stock’s dividend yield is 5.69%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.83%, the lowest has been 1.84%, and the highest has been 6.24%. The standard deviation of yields is 0.95 (n=237).
The current dividend yield is 3.03 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.30. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 585 funds or institutions reporting positions in BankUnited. This is a decrease of 2 owner(s) or 0.34% in the last quarter. Average portfolio weight of all funds dedicated to BKU is 0.21%, a decrease of 6.45%. Total shares owned by institutions decreased in the last three months by 0.84% to 91,500K shares. The put/call ratio of BKU is 1.24, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 6,312K shares representing 8.48% ownership of the company. In it’s prior filing, the firm reported owning 6,829K shares, representing a decrease of 8.19%. The firm decreased its portfolio allocation in BKU by 42.59% over the last quarter.
IJR – iShares Core S&P Small-Cap ETF holds 5,407K shares representing 7.27% ownership of the company. In it’s prior filing, the firm reported owning 5,288K shares, representing an increase of 2.20%. The firm decreased its portfolio allocation in BKU by 7.53% over the last quarter.
Alliancebernstein holds 2,836K shares representing 3.81% ownership of the company. In it’s prior filing, the firm reported owning 3,370K shares, representing a decrease of 18.83%. The firm decreased its portfolio allocation in BKU by 54.93% over the last quarter.
American Century Companies holds 2,715K shares representing 3.65% ownership of the company. In it’s prior filing, the firm reported owning 2,545K shares, representing an increase of 6.25%. The firm decreased its portfolio allocation in BKU by 31.63% over the last quarter.
Jpmorgan Chase holds 2,558K shares representing 3.44% ownership of the company. In it’s prior filing, the firm reported owning 2,607K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in BKU by 39.73% over the last quarter.
BankUnited Background Information
(This description is provided by the company.)
BankUnited, Inc., with total assets of $35.0 billion at December 31, 2020, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with 70 banking centers in 14 Florida counties and 4 banking centers in the New York metropolitan area at December 31, 2020.
Key filings for this company:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ? ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ? TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC
This article originally appeared on Fintel
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